Breakout in Reliance We can see a breakout. Important support marked in case we get re test of breakout levels
RELIANCEPP trade ideas
Breakout soon in RILDarvas box breakout setup
RSI above 65 and rising
Trading above EMA50
Volume increasing
~5 months of consolidation
Disc: for study, not a recommendation
Reliance Industries Ltd:- Right-Angled and Descending BroadeningReliance Industries Ltd:- Right-Angled and Descending Broadening Formations
11 to 17% Upside potential
Levels mentioned on chart & given targets seems achievable.
Plan your trade accordingly.
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’,trade at your own risk.
"Trade what you see, Not what You Think"
Happy Trading(:)
RELIANCE BULLISH BREAKOUTIts a bullish breakout of up flag. breakout is happened after a good consolidation with huge volume.
Reliance today buy given at 2890-92 we grt huge profit Disclaimer -
This information is only for educational purposes, this is not for any buy or sell recommendations .
On Our Harmonic pattern indicator
based trade setup take trade as explained below :-
ENTRY -
When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade
SL -
SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low .
TARGET -
Target 1- (T1 : 61.8 %)
Target 2- (T2 : 88.6 %)
Target 3- (T3 : 127.2 %)
Target 4- (T4 : 161.8 %)
Please note:-
It's working on news based and volitile market very well so exit if SL hit
ATH_RELIANCE Today (26-06-2024) Reliance stock is closed at ATH and looking for some upside momentum.
Positive Note:- 1) Stock closed @ ATH today.
2) Stock closed With Bullish Engulfing Candle @ Monthly open which is acting as support.
3) Indian Indices Nifty 50 is also closed Higher today.
4) Still Now Large cap (Reliance) stocks have not contributed much to Nifty 50, Now If
Reliance stock gives contribution to Index and Index Will reach to ATH again.
Negative Note:- 1) Premiums are high for Coming Month July_2024.
2) Wait for pullback and Take opportunity in F & O.
Happy Trading!! Only for Educational purpose.
Breakout After 5 Months of Consolidation With Strong Volume ✅ The stock has consolidated for 5 months before breaking out, signaling the end of the consolidation phase and the potential for a strong upward move.
✅ The breakout has occurred above a key resistance level around 3020-3040, which was tested multiple times. The ascending trendline and the horizontal support level converge, providing strong support around the 2600-2700 range.
✅ The stock is trading above key moving averages (not shown but assumed based on typical analysis), indicating bullish momentum.
✅ The breakout is accompanied by strong volume, confirming the bullish sentiment and the likelihood of sustained upward
✅Reliance Industries has been actively diversifying and expanding its business portfolio, including significant investments in renewable energy, retail, and digital services. These initiatives are expected to drive long-term growth and reduce dependence on traditional petrochemical revenues.
✅The company's financials remain robust, with strong revenue growth, healthy profit margins, and manageable debt levels. Key financial ratios, such as P/E and ROE, indicate that Reliance Industries is well-positioned for future growth.
✅The energy sector, particularly the renewable segment, is witnessing strong growth, driven by global sustainability trends and government policies. Reliance's strategic shift towards green energy projects positions it favorably in this evolving market.
✅As one of India's largest conglomerates, Reliance Industries' performance is closely tied to the broader economic environment. Positive macroeconomic indicators and supportive government policies are likely to benefit the company's growth prospects.
BTST for 27/6huge upmove on a trending stock with 50% fibretrace bounce up, huge volume accumulation
break above 3Kthe stock is at channel and fib resistance. The break of the 3000 zone will take it to 3500 and 3800.
#Reliance Industries Stock Trading Important levelsOn 1 Hour Timeframe, Reliance Industries stock trading important levels. Time to wait for either breakout or Breakdown (reversal) for the Reliance Industries.
Breakdown Move
- Confirmation for breakdown will be if Relinace industries stock starts trading and sustain below 2956 level
- Downside rally nearly 50-60 points expected in case of breakdown
- Intermediate support expected near 2927- level
- Short Trader can place there stop loss if Reliance Industries Stock starts trading above 2973+ level
Breakout move
- Long side movement expected in case Reliance Industries Stock starts trading and sustain above 2973+ level
- Above this level Reliance Industries Stock can go upto the 3236+ level.
- Intermediate resistance expected near 3145+ level
- Long trader can place there stop loss if Reliance Industries Stock starts trading below 2956- level.
VIEW ON RELIANCE INDGood chart
After crossing 3030 levels 3200 and 3400 levels are also possible
Stop loss around 2900
I am just representing my views
For educational purpose only.
RELIANCE Weekly Update 15/JUN/24Hello Traders.
Is it that Reliance indicating a One sided move with trendline shifted up higher.
The Patience guy is About to lose the patience & cares about no one.
The big move is on the way once the Range has been Breaked & one of the major role player in NIFTY volatility in Future.
Let it break out of 3000 rs levels & planned the entries on daily chart.
HAPPY TRADING
Reliance weekly update 07/JUN/24Reason I choose RELIANCE TO trade beacuse of its huge weitage. Huge Weitage stocks to be considered the less volatile & safe instrument to Trade.
As RELIANCE is trading in the Range from Few Weeks, Do not plan to execute orders below the 3050 Levels.
If the WEEKLY CHART crossed above the level then only I will plan my trade in RELIANCE.
MONTHLY RSI > 60.
WEEKLY RSI < 60.
Once the 60 levels crossed in RSI on WEEKLY BASIS then will try to Create. POSITIONS on DAILY CHART.
An RSI HIDDEN BULLISH DIVERGENCE ( Positive reverse Divergence ) is Printed on Weekly Charts.
Seems to be the Consolidation to be over & Fresh breakout to likely happen m SOON.
Till then Enjoy the Back Seat Game.
WAIT & WATCH & REPEAT.
HAPPY TRADING
Don't Miss This Stock: Reliance's Bright Future- Elliott Wave Disclaimer:
Trading in financial markets involves substantial risks. Consult your financial advisor before making decisions. This commentary is not a solicitation to buy or sell.
WaveTalks - Market Whispers: Can you hear them?
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Stock Overview:
Since January 1996, Reliance stock started an impulsive rise from ₹12.95, unfolding a series of 1-2, 1-2 waves. Currently, Primary Wave ③ (blue) is in progress and has a long way to go. This wave is subdivided into green bracket waves (1), (2), (3), and (4), with wave (4) forming a triangle. Now, we are in bracket wave (5) (green).
Current Wave Structure:
Wave (5) (green) is subdividing into Yellow waves:
Yellow Wave 1 completed at 3024.90
Yellow Wave 2 (one leg could be completed or complete wave 2 could be ended at ₹2718 on June 4th, post-election results)
Upcoming Targets:
Wave 2 completion is confirmed once Reliance surpasses ₹3050. Targets are:
₹3500
₹4025 (162% of Yellow Wave 1, which peaked at ₹3024.90)
Why Add Reliance to Your Portfolio:
Stock bounced sharp upside from 2718 lows = 200 DEMA (White line)
Potential to hit new highs.
Expected to reach ₹4000 and later ₹5000 in the coming months and years.
Conclusion:
Reliance shows strong upward potential. Including this stock in your portfolio could yield significant returns. Let’s review the progress in a few months. Have a great Sunday!
Visual Summary of Waves:
1. Primary Wave ③(blue) unfolding
2. Bracket wave (5) (green) in progress
3. Yellow Wave 1 completed at 3024.90 highs
4. Yellow Wave 2 completed at ₹2718 ( alternate -only one part in wave 2 completed at lows of 2718 & wave 2 can be confirm complete once it crosses above 3050 highs)
Key Levels:
Break above ₹3050 confirms next targets
Targets: ₹3500, ₹4025, ₹5000
Plan accordingly and stay tuned for updates.
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From WaveTalks
Abhishek
Professional Outlook on Upcoming Trend I have made efforts in Explaining from Longer data chart to shortest as daily
Hope you will find it reasonable and if you have any Questions let me know i will try to address it
Thanks
RELIANCE IND GANN ANALYSIS FOR JUNE 2024 EXPIRYReliance Inds carries a weightage of 9.75% in the Nifty 50 Index. It has been the main stay for investors and funds for past decades. Also it has delivered the goods for the investors and will continue to do the same. Recent all time high made was 3029 on 03 June 2024. Earlier High was made in first week of March 2024 at 3024.90. So after 3 months attempts it made a double top and corrected. Earlier correction from March 2024 took it down to 2769 in second week of May 2024. Current correction took it further down to 2718.60 on 04 June 2024.
Trend decider level is at 2690 above which trend is positive. Momentum can be seen above the level of 2810. It faces a resistance at 2960 for that it has to cross and close above the level of 2870. For further growth it has to cross the level of 3050 and momentum can be seen above the level of 3140. Major squaring level come s at 2910 above which it will continue the growth.
Happy Trading !!!
N.B. Not a financial advice to buy or sell.
With usual disclaimers as applicable within the reach of this
beautiful trading analysis platform. Thanks to the developers
of the program for this opportunity to use it freely to
express our ideas to the community of traders.
VIEW ON RELIANCESTOCKS TO WATCH
CAN FOCUS ON THIS STOCK FOR TOMMOROW'S TRADE
For educational purpose only.
RELIANCE (W)RELIANCE all set to lead the next bull rally?! 🚀
What do you think?
Adani and Ambani combined will lead Nifty to 25k?
Reliance will Support Nifty for Upmove?Reliance Industries, a major component of Nifty 50 with more than 10% weightage, is currently trading at 2850, which is the 61.8% FIBO retracement level of the last swing. We might expect a good bounce from this level. However, if this level does not sustain on a closing basis, we might see a fall to 2728, where there is a strong demand/support zone at 2647 - 2728.
The monthly and weekly trends (50 SMA) for Reliance are positive, while the daily trend remains sideways for now.
Watch Reliance closely, as its movement will likely influence Nifty's direction.
Reliance Flag and pole PatternMost probable retracement is at 38% level and the second is 50% level.
Target is 3440 if flag upper level is broken.
3 entry levels:
1st at 38% - 25%
2nd at 50% - 25%
3rd at breakout of upper limit channel - 50% (or the remaining)
ReliancePrice was falling for few days and now it is at support. 2880 is an important zone.
Buy above 2882 with the stop loss of 2870 for the targets 2896, 2908, 2922 and 2940.
Sell below 2862 with the stop loss of 2874 for the targets 2850, 2838, 2824 and 2808.
Check the live market updates.
Hit the like button to Rock !! Show some energy !!
Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
You are responsible for whatever you do.
reliance looking good for the bullsgood risk to reward for bulls, price shouldnt close below the prev swing. or else bears would be incharge
Reliance - will it get Support ?Price is nearing to key support area and already in previous spike - price zone. Ideally Reliance must get support or else it will prove Indian markets are simply pump and dump and no technical works...
