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RELIANCE INDUSTRIES LTD

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Reliance - Update 1. In the daily chart, drawn are (a) Vertical Lines. (b) Red Circles (c) and copper, green curves 2. Red circles are forming a Horizontal Point showing that in the past it was a resistance and now has become a support. 3. Vertical Line and corresponding curve(s) are drawn with reference to lowest price and corresponding Williams R%. Whenever, William's R% touches lower white horizontal line, price bounces back. 4. Last swing of Reliance started from 2200. 5. 23rd October is 15 degree of Indian Market and price bounce back from here. Next two important candles for Indian Markets are 10-26-23 1:35 PM and 10-29-23 12:28 PM. Besides this, Last important candle was 10-23-23 2:42 PM. 6. There was buying done by FIIs on 13th, 17th, 20th & 23rd October, so levels of these dates also become important. 7. On 12th October Delivery rate of overall was 60% at 2349.4, so, this level become all the more important. 8. Option shows a. Huge put support at 2200, then on 2300 there are lesser put support as compared to calls. . On 2400 there is huge call selling. However, we know that on Tuesday's Option data changes sharply because calls generated on Friday are generally liquidated on Tuesday and vis versa. Those who know how to read option data may also scrutinize this also b. Till 15th of November, Reliance may give 100 points rally. Important Note for execution: a. Mark high and low of 10-23-23 2:42 PM this candle and buy only above this. b. Price levels for today are: RELIANCE Sell Below and Levels 2231.56 2208.01 2184.57 2161.27 Buy above and levels 2267.137993 2279.05 2302.98 2327.04 2351.22 Disclaimer: I am not a SEBI Registered Analyst, please consult your financial advisor before making any decision.
NSE:RELIANCE
by rekhi567
Reliance - Oversold I have taken an opportunity to discuss one of the best indicator i.e. William R% for trading which I always recommend. The usage has been discussed in iH Chart. Now, that stock is oversold in 1H, it is bound to go up. But, wait for atleast 3 hourly candles above levels mentioned above and then trade tomorrow. Though, I have made detailed analysis and suggest that Reliance will recover any wherefrom here, but to cut it short not discussed them rather discussed William R% instead. All the other things take a back seat in treading and on the front is liquidity available to the smart money. Smart money will not take auction upwards unless it gets enough liquidity at his own price and time. So, even if we don't use any other indicator else than this and act accordingly, we can succeed. Please read everything carefully as written on the chart and try to apply at all levels may be 5m, 15m. 1H D, W, M. Price Levels for tomorrow are mentioned here under: Sell Below 2231.56 2208.01 2184.57 2161.27 Buy above and targets Providing here the modified version of my script for indicator study(title="Williams %R", shorttitle="The Willy") // Williams %R length = input(defval=21, minval=1) upper = highest(length) lower = lowest(length) output = 100 * (close - upper) / (upper - lower) ema = ema(output, input(defval=5, title="EMA")) ema1 = ema(output, input(defval=13, title="EMA")) // Plot h1 = hline(-31, title="Upper Band") h2 = hline(-71, title="Lower Band", color=red, linewidth=2) L1 = hline(-29, title="Upper Band" , color=red, linewidth=2) L2 = hline(-69, title="Lower Band") h0 = hline(0, title="Uppermost Line", color=silver,linewidth=2) h100 = hline(-100, title="Lowest Line", color=silver,linewidth=2) //////// fill(h1, h2, title="Background") ///////// plot(output, title="%R", color=yellow, linewidth=1) plot(ema, title="EMA", color=aqua, linewidth=1) plot(ema1, title="EMA1", color=red, linewidth=1) 2267.13 2279.05 2302.98 2327.046709 2351.228945
NSE:RELIANCE
by rekhi567
BUY LEVELS FOR RELIANCEPlease note this is not a financial advice.kindly manage your risk yourself this is just my own views for this trade Hello everyone hope everyone is doing fine Today i am here to share my support or buy levels for reliance based on previous trends,order block,relative strength, and according to me these levels for new investors are great in this down trend for example if i have to invest 50000 in this stock i would buy like BUY LEVELS are 2245=15000 2151=7000 2096=7000 2043=15000 1991 which is probably less expected same goes for my sell levels for short term 2436 2492 2620 i will sell around 40-50 till this level and hold my remaining Upvote if you agree
NSE:RELIANCE
by D3ffyDuck
Reliance - Update Attached are 12 M , 1d and 1H charts of Reliance. 1. 12M Chart shows 2282.25 is the pivot and R1, i.e. Fibonacci 8 Level as per my customize indicator is 2284.95. 2. 1D Chart shows that taking high of the present swing as 2621.7, 2295 is the zero Fibonacci level. Price is just above 200 SMA shown by white curve. 3. IH chart also confirms the same. 4. Elliot Wave: In my earlier discussion, on the stock, Elliot curve analysis showed that the lowest level till where it can retrace is 2370.25. Link provided. 5. Price data of Reliance shows that the low of 9th October is 2295 4th September is 2295.1, so lowest level of October 2023 has not been broken so far. 6. Price Levels for 23-09-2023 are Last closing 2296.3 Sell Below and levels 2272.41 2248.63 2224.98 2201.46 2302.29 2308.29 Buy above and Levels 2320.32 2344.46 2368.74 2393.13. 7. Next important candles are 10-23-23 2:42 PM. 10-26-23 1:35 PM and 10-29-23 12:28 PM. Mark highs and lows of these candles and buy only above highs and sell below. Conclusion: Reversal of cards for Reliance Industries, but don't be in haste. Specially adhere to the level of time mentioned in 7 above. Use other indicators like William R% and SMAs/EMAs. Disclaimer: I am not a SEBI Registered Analyst, please consult your financial advisor before making any decision, I will not be responsible for any of your profits or losses.
NSE:RELIANCE
by rekhi567
1
Will Reliance continue its Downtrend ?The price declined about 13% from the high of 2631. Also the degree and nature of separation of ema bands indicates a downtrend. If the price is rejected from the level of 2362 then it will continue its downtrend. And for an uptrend the price has to break the resistance zone with momentum. It's important to consider, the long-term band is in the resistance zone. So wait for the price to clear its trend. Currently we are at make or break levels. Hit the like button!! Show some energy!! Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. This material is only for educational purposes. Thanks Er. Simranjit Singh Virdi
NSE:RELIANCE
by ssvirdi
2