RELIANCE in Bearish Trend: Should You Buy or Sell?
Based on the chart, RELIANCE INOS is in a bearish trend. The price has been falling for a while, and it is now at a support level of 2313.95. If the price breaks below this level, it is likely to continue falling. However, if the price can hold above this level, there is a chance that it could rebound.
Here are some of the key observations from the chart:
The price has been falling for a while, forming a series of lower highs and lower lows. This indicates that the bears are in control.
The price is now at a support level of 2313.95. If the price breaks below this level, it is likely to continue falling.
The price has been consolidating at this support level for the past few days. This indicates that there is some buying pressure at this level.
The volume is relatively low, which indicates that there is not a lot of interest in the stock at the moment.
Overall, the chart suggests that RELIANCE INOS is in a bearish trend. If the price breaks below the support level of 2313.95, it is likely to continue falling. However, if the price can hold above this level, there is a chance that it could rebound.
Conclusion:
Investors should be cautious about buying RELIANCE INOS at the current time. The stock is in a bearish trend, and there is a risk that it could continue to fall. Investors should wait for the stock to show some signs of strength before buying.
Trendingstocks
Bullish BAJFINANCE -W patternKeep a close eye on the stock if sustained this week then we can witness a give a good upside in the coming days. Before breakout stock has formed the w pattern.
Disclaimer - The chart is shared only for educational purposes. Please do not trade ideas without consulting your technical advisor.
Bandhan Bank is moving upThe Bandhan bank is looking good at this level and sustaining well above the resistance zone. keep on the radar.
Disclaimer - I am not a SEBI-registered technical analyst and advisor so contact your financial advisor and make a self-decision. I will not be responsible for any profit or loss.
CAPACITE : Low Risk High Reward Trade#capacite #trendingstock #bullishstock #demandsupplyzone
>> Potential Risk Reward more than 1 : 4
>> Good trending stock bouncing back from Demand zone & 20 EMA
>> Decent Volumes & Good strength in stock
Swing Traders should focus on 10% profit & keep trailling
Please Like or comment if u r Liking the analysis & Learning from it. Keep showing ur Love
Disclaimer : This is not a Trade Recommendations & Charts/ stocks Mentioned are for Learning/Educational Purpose. Do your Own Analysis before Taking positions.
HSCL : Small Risk High Reward Trade#hscl #swingtrade #bullishstock #trendingstock
>> Trending stock taking support of 20 EMA & bouncing back
>> Risk Reward Higly Favourable in this trade
>> Good Strength & Decent Volumes which can rise in coming days
Swing Traders should focus on 10% profit & keep trailling
Please Like or comment if u r Liking the analysis & Learning from it. Keep showing ur Love
Disclaimer : This is not a Trade Recommendations & Charts/ stocks Mentioned are for Learning/Educational Purpose. Do your Own Analysis before Taking positions.
TECHM Breakout for long positionIn today's trading session, TECHM has given the major resistance line breakout. Keep your eye on the stock if 2-3 candles sustain above the resistance line it can be a trending move.
Disclaimer - I am not a SEBI-registered technical analyst and advisor so contact your financial advisor and make a self-decision. I will not be responsible for any profit and loss
Auto indexThe auto index is showing exhaustion, which means the auto stock may take a pause here. so if you have auto space stocks in your portfolio keep a watch on them and do a re-analysis of the stocks. closing below the horizontal line may reverse the trend of the index.
Disclaimer - I am not a SEBI-registered technical analyst and advisor so contact your financial advisor and make a self-decision. I will not be responsible for any profit and loss
Double bottom chart patternICICI Securities given double bottom formation on chart
breakout level is 577
if price sustain above 577 there will be more up side in stock
you can place target up to 734 after
This breakout level is resistance which will become support after breakout
once it break 577 price will suddenly rise after it may be some profit booking for intraday traders those who take it at breakout because of this profit booking by very short term traders this will take price down so it may retest the level of 577 after breakout
when it retest that level resistance will become support here again fresh buying will come those who not able to take because of fast up movement at breakout they are waiting to take again if price come at that level of 577 this will lead to take price again in up direction after retesting from here there may be a good move in stock for target of 734
Double Bottom chart pattern :
This chart pattern is seems as " W " pattern
where price comes down from higher side and give a price correction which make first bottom
Then price again try to follow trend and comes down but price rejected to go more down by buyers and near support of first bottom it reject the trend continuation
and this up move from support with first bottom create second bottom on chart which seems as "W"
At previous correction high by price given last swing high this high is consider as breakout level for double bottom chart pattern
This chart formation is a sign of trend reversal
INFY longThe chart pattern is suggesting that INFY is trending upside and today's closing is signaling that the stock has the strength to go up. As per the chart next stops should be 1333 and 1374.
Disclaimer - I am not a SEBI-registered technical analyst and advisor so contact your financial advisor and make a self-decision. I will not be responsible for any profit and loss
Nifty IT Sing of strength Nifty IT is suggesting to find better opportunities in IT stocks. The index is showing sing of strength and positive momentum.
Disclaimer - I am not a SEBI-registered technical analyst and advisor so contact your financial advisor and make a self-decision. I will not be responsible for any profit and loss
MMFL Resistance BONSE:MMFL
#NSE:MMFL Given 2yrs Long Resistance BO. Chances to get a small pull back and bounce.
Marked the levels on chart.
Already shared the same stock @ 669 entry in Feb'22 and those who taken entry are enjoying profits.
New level might be the good choice in trending market and all dips are good opportunities to average if any.
Happy LEarning !!