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RELIANCE Short. Trying to get back into the long term channel. Reliance is moving in a cyclical pattern since it made ATH. What must be done? I'll answer few of the queries regarding this stock. From 2009 till 2017, this stock was flat, trading inside a horizontal channel (not visible in the chart). After 8 years, it made a move, and from 2017 till 2020 it followed an ascending channel (shown in the chart). In 2020, it broke this channel twice on both sides. Currently, after making the exceptional up-move, due to continues news flow (and excess liquidity, of-course), it has been testing and bouncing form the upper-band of the long term ascending channel. It has tried twice to break and get inside the channel. Rest of the things, the stock itself is telling the story. Long Term View: For all those who missed and waiting to enter for long term investment, the best price and time will be when it will test the lower band of the ascending channel. Will that happen? In my opinion, yes, it will break the upper band and come inside the channel when it will test it again for the third time. Generally (not always true), any support or resistance is broken on the odd attempt. This is an ideal scenario, when there is no new flow, else it might again bounce from the upper band of the channel. Short Term View: In short term (4-12 weeks), this seems bearish, not only because of all the reasons I explained above, but also because of the depleting RSI on the weekly time frame. The exuberant mood has pushed it to trade at current level, but we know everything gets normalized with time. Very Short Term View: It should come to 2005, if the weekly candle closes below 2070 this week. The two recent downfall, and the Fibonacci extension suggest that 2000 level shall be tested in 1-3 weeks, if that breaks, then 1960-80 (the variation is because of unknown time factor) will act as a support (upper band of ascending channel), if that also breaks, then 1930 will act as a support. This short term idea shall be considered invalidated, if weekly candle closes above 2120. Disclaimer: The information provided herein is for educational purpose. Please consult your financial advisor before making any decision. If you like the idea, be generous to like it, and share it with others. Comments and Criticism are welcome.
NSE:RELIANCE
by UnknownUnicorn24887800
New Position.. Great RRGreat Fundamentals. Did a decent Breakout, Now going back for re-test. I didn't wanted to take chance, hence I brought it straight away. But to save further 2-3% return one can wait & invest. Movement will be slow in this one. but it will surely easily give 40-50% easily, because auto sector has started its swing. Lets see! :) . . . Disclosure: Not a Recommendation. Personally Invested.(40% of total allocation for this stock, which will be 8% of overall portfolio given the conviction)
NSE:GABRIELLong
by IIMA_Brat
5
Dwarikesh Sugar 4H TF AnalysisDwarikesh Sugar 4H TF Analysis -Price was nicely moving in a Rising Channel and continuously taking support from 50 EMA(Pink Line) -Broke Out of Rising Channel but take Support and trying to gain back its status -Major Resistance @ 80, Trying 3rd Time Need Good volume to break it and sustain it -Major Support @60 Two Possible Scanerios - GreenLine Price breakout above 80 - Red Line breakdown of minor supports or enter into a consolidation zone Quarterly Results declaration can see a good move Sugar Industries is good for holding for the long term due to Ethanol Petrol Dilution announced by govt.
NSE:DWARKESHLong
by dsuraj32
Gabriel India ready for a launch💙anytime bo cmp 126 add @Dips Why was it selected❓ 🔹Good numbers. 🔹Technically looks good. 🔹Funda almost good. 🔹Company is almost debt free. 🔹Breakout above 132.Forming ascending triangle & 130-131 range acting as a good resistance. 👉Entry possible,but it’s not a buy recommendation.Study well🙏 ABOUT THE COMPANY🍂 Gabriel India is part of ANAND Group. From being a single-product company in 1961, we have transformed ourselves in line with changing market, technical and social trends and played a key role in limiting emissions of ride control products and foster the cause of environmental protection. Company manufactures over 300 models of ride control products. # Its products include shock absorbers, struts, front forks and others.# It has a vision to be amongst top 5 shock absorber manufacturers in the world by 2025. Thank You.💚 Like🔹Comment🔹Support
NSE:GABRIELLong
by ANKITHSHAJU
10