Reliance a target of 3100 coming in few months!A very nice descending channel i NSE:RELIANCE nside a paralell channel. If it doesn't take one leg down, Im pretty sure it'll give a nice breakout heading towards 3100!!
RELIANCE trade ideas
RELINCE- KING HAS AWAKENED~Broken trend line.
~Taking support on 20 w ema line.
~It can move up after the consolidation.
Reliance Analysis (Short Term)Reliance Analysis (Short Term)
If Price Sustained above 2590, more Upside Possible and Target is 2650/2660
If Price breaks 2508, more Downside and target is 2465/2452.
What reliance is doing on chartsHello everyone,
I have already shared Reliance analysis some couple of weeks ago.
Our view was bullish for a target of 2600 which was achieved easily.
You can re check that analysis for learning purpose.
Reliance is still at our target of 2600, which is actually a PRZ (price reversal zone) as per harmonics pattern XABCD.
Another interesting thing is the trendline you can see on chart.
I have drawn this trendline as per line chart. Both PRZ and Trendline is actually merging at the same point, making it a strong resistance as long as it is below that.
Today we get a weekly close which is actually still below this 2600 level (point D marked on chart),
so we have to be watchful with reliance as if we open flat on Monday, we might see rejection from this point again.
Best chance for upside is only if reliance opens gap up above 2600 and sustain above that with a retest.
Keep learning guys...
Have a nice weekend.
RELIANCE STILL BULLISH?Hello everyone,
Happy Diwali to all...
I am sharing Reliance chart on Day time frame.
As long as Reliance is trading above 2430-2450, We can expect another upside for a target of 2590-2600.
Logic is Reliance break an important swing market as B on charts..if it comes and retest this 2430-2450 zone and form any bullish candle
we can go long for a target point D marked on Chart with help of XABCD pattern.
Took support exactly from indicated level. #Reliance update
Took support exactly from indicated level.
Mota Bhai stock ko girne nhi denge.
Now looking good. Important level updated.
RELIANCE (TRIANGLE / FALLING WEDGE)Will the leader finally take the charge for $NIFTY?
Falling wedge breakout - 2950 possible by year end
Stop below 20 EMA Closing
RELIANCE LOOKING A GOOD BUYReliance looking good at these level 2385 - 2375 with SL of 2300.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Reliance: another Bearish Engulfing in last 10 days?Reliance:
Fibo 1: Level 2 completion, we make expect a 50% downside movement if it has to move up or also move above the 2610 level (marked with red line) this is the previous 50% level from where it has to give a trend breakout, back testing and move up further.
Fibo 2: resistance at 0.236 level: 2590.7 again, matching with the Fibo 1 levels
Fibo 3: Level 1 as ATH & Level 0: Low after that (30 Sept) till now, we have come to 50% levels 2583.6 and daily closing candle is again below these levels,
overall signal looks in the downside.
Caution:
1. may take support at 50% levels to complete a short reversal around 2433 level to 2390 levels
2. the previous 2 Bearish engulfing on 21st & 25th October have been unsuccessful
Is Reliance changing trends?In the daily time frame, it is in a falling wedge pattern. I have tried Elliott wave analysis, but I am new at it, so do not trust me on that. It is at an important level, so I will wait for some more price action to take fresh positions.
RELIANCEReliance is at interesting levels. Do keep an eye on it for any long side breakouts.
Happy Trading :)
Disc: Chart posted only for learning purpose.v
Reliance Chart analysis | Make or break levelPrice & Volume relationship:
-----------------------------------
Price goes up but Volume goes down these means not a good time to invest.
Look closely at the "W" pattern forms which means if the neckline is broken then do not be in hurry, Watch out for Volume & OI & then Boom Boom !!!
RIL LongNSE:RELIANCE
Long @2461
SL@ 2438
Target 2550
RIL is in uptrend now and can enter in Long trade at 2461 , for the target of 2550 by the expiry of the current month.
Disclaimer: author may enter in trade, take your own decision , This is an trading idea not an trading or Investment advice
reliance looks attractive at current levels . BUYBUY RELIANCE 2350-2370
STOP LOSS 2290
1ST TARGET 2561
2ND TARGET - 2785
3RD TARGET - 3175
reliance is trading in uptrend channel on daily , weekly and monthly chart, EVEN A DOJI HAS FORMED - FOR TREND REVERSAL
200 ema is super strong support except covid fall this not been broken in the last 5-7 years (laxman rekha)
even today it has taken support and recovered, seeing the super strong fundamentals and future growth this definetly a buy
this post is only for educational purpose, pls do your own analysis
Reliance Reliance looks very promising on the chart
Reliance forming Irregular wave B triangle as per elliot wave theory.
And it breaks B-d triangle with volume.
RSI is also at a good level to enter.
Crossover across different EMA.
For short term Target will be -@2560
Request you please do your own study before any trade.
Reliance , Triangular Breakout , Ready To Move Up Reliance , Triangular Breakout , Ready To Move Up NSE:RELIANCE
Verdict::
Volume Higher
Indicators Strongly Bullish
T1 2562 T2 2635
SL 2492
If Reliance Moves up , Nifty Will Follow
Note:: Look for 2550 Level in Reliance , It Can Give Resistance
RELIANCE - Available @ great Risk : Reward (Swing Trade)The analysis is done on daily TF hence price may take days to a few weeks in order to reach the targets.
Trade setup is explained in image itself.
At this position, one can get great Risk : Reward as the SL is quite low as compared to Targets.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
RELIANCE_INDS_H&S_BearishReliance Industries looks like a head-and-shoulders formation. If the price breakout the neckline & sustains below the 2600 , the pattern will be activated. See downside upcoming target 2440.
#Reliance chart analysisReliance most important levels
reliance created W pattern and
stock is in breakout area and
most prob. stock give breakout on Monday.
This idea is only for educational purpose.
Reliance what's our view Falling volume followed with high volume price down suggests Reliance is in exhaust run. Resistance is at 2570. hitting the resistance Expect it turn down to Support 2415.
Reliance Closed Big Positive II Stock will fly above trendline Reliance Higher High Weekly Closing
Daily Closed above Long & Short EMA
RSI Approaching Positive level
Will fly after Trendline Breakout
Demerger Announcement is biggest positive for Stock
Keep on radar for next week
Reliance in channel modeReliance in channel mode. so we wait untill it come out of zone.
no swing trade untill it cross 2673 level.
RelianceRSI shows diversion , and moving downside.
Once price tried to break trendline .
Entry after trendline break .
Entry:- 2498.65
Downside Resistances can become our targets.
Targets :- 2480.50 , 2457.65 , 2439.50.
SL :- 2527.85 Resistance zone .
