RELIANCEPP trade ideas
Reliance case studyPrice action study on reliance 240 mins chart,
from last 2 trading sessions counter is giving weak signals,
rally started around 2300 levels in counter to level of 2640
counter is trading in ascending parallel channel structure and maintaining its posture around higher end of the structure,,
now in last 2 sessions counter is giving reversal signals,
bearish divergence on RSI with respect to price,
resistance of major descending parallel channel around 2640
RSI indicator have already given breakdown from ascending trend line support,
Now onwards any rally till levels of 2620-2630 should be used to exit your long position,
view gets negated above 2671 levels on daiy closing basis, which means fresh investments only above 2671 levels,
down side on counter breaks levels of 2583 decisively, counter will face heat of selling pressure which would lead to lower levels of 2520-2490-2450,,
Time to be cautious on your investments in this counter, fresh investor should wait for counter to break above 2671 levels or retrace till 2450 levels than enter the trade.
Choice is yours.
Reliance Weekly & Daily Chart Reliance Weekly & Daily Chart ,Bullish Setup ,With Trendline and channels .
Reliance BullishReliance is out of the trend line on positive side. Look for a retest and move up side. If market opens positive, then may not retest.
RELIANCE FALLING WEDGE PANNELReliance support 2600 round levels but
you look falling wedge pannel create sell monday session
Reliance support and resistance Lable on my point of view Reliance support and resistance Lable on my point of view
Reliance Ind. next week According to chart if stock brake 2636 and 2676 resistance then it will go for 2780+.
Relience Short term Swing trade with rising wedge pattern...here is the chart which is explaining us the pattern named rising wedge and it already had given us a good breakout with some good volume and also retested it's trendline in lower time frames.so here we can go short if it gives us a move towards downside......
Reliance is looking good post a small retracementNSE:RELIANCE can give breakout post it's small retracement.
INSIDE BAR STRATEGYAn “inside bar” pattern is a two-bar price action trading strategy in which the inside bar is smaller and within the high to low range of the prior bar, i.e. the high is lower than the previous bar’s high, and the low is higher than the previous bar’s low. Its relative position can be at the top, the middle or the bottom of the prior bar. So now come to the theory of inside bar of how to take trade is The classic entry for an inside bar signal is to place a buy stop or sell stop at the high or low of the mother bar, and then when price breakouts above or below the mother bar, your entry order is filled. It’s worth noting that these are the ‘classic’ or standard entry and stop loss placements for an inside bar setup, in the end, experienced traders may decide on other entries or stop loss placements as they see fit.
Stop loss placement is typically at the opposite end of the mother bar, or it can be placed near the mother bar halfway point (50% level), typically if the mother bar is larger than average. So I am sharing the entry and the Stop loss through the pictures I am sharing below.
reliance analysisreliance trend line formation
price touches again demand zone
and forming green candle
if it goes up from here it will again test that trend line,
over trend line watch for breakout, upside rally after breakout
Reliance to reach 2800, will it break all time high? Reliance has broken channel and pattern.
Formed Bullish #Headandshoulder pattern
Will it help to break Nifty consolidation zone?
Head height giving Rs 250 price range.
Buy #Reliance Above 2611
SL 2510
T1: 2710
T2: 2810
Reliance Breaks Its DownfallReliance has broken past its long term bearish trendline after taking support from its short term bullish trendline
on above average volume.
50EMA has crossed 200EMA giving a
golden cross.
Targets can be take at T1 and T2
Stop loss below the most recent candle
Keep It Simple
Reliance about to break trendlineReliance tried to break this trendline twice but failed, But this time it will break and reach the following 2650,2700,2750,2800,2850,2900 targets this month.
Reliance TrendReliance is following this channel and it looks like the trends is moving towards up, one can take position when it reach the support aiming bigger profits in the long run
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!!
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
