RELIANCE IND IS AT BASE SUPPORTRELIANCE Industries is supposed to take support around 2300 level. Between 2275-2325, it has multiple support structure. It shows excellent Risk Reward ration.
RLI trade ideas
Flag PatternIn the context of technical analysis, a flag is a price pattern that, in a shorter time frame, moves counter to the prevailing price trend observed in a longer time frame on a price chart. It is named because of the way it reminds the viewer of a flag on a flagpole.
The flag pattern is used to identify the possible continuation of a previous trend from a point at which price has drifted against that same trend. Should the trend resume, the price increase could be rapid, making the timing of a trade advantageous by noticing the flag pattern.
Script = Reliance
Time Frame = 15 min
RELIANCE- THE MARKET MOVERNSE:RELIANCE
Reliance is consolidating in a Channel(Channel is a pair of parallel lines ).
Yesterday the price taken a support from the bottom of the channel and moved up.
If if manage to remain above 2388 it can show a up move.
Nifty is also standing at a resistance. Nifty cannot be positive without reliance.
Buy above 2390 with a stop loss of 2365
Its my view not a recommendation. For educational purpose only.
RelianceReliance 1hr
Dear Friends Reliance Opportunity For Swing Trading.
Daily MACD Positive Crossover.
1hr Time Find Wedge pattern Breakout With Bulish Divergence.And Price Goes up
And Price Comes At Major Previous Support And Fib Retrement 78% And make A Higer Low
Now We Can Take Sl 2309 And If Price Goes Up So Good Bet For Bulish Side And Also BB Flat Now And Very Good R:R
And Find ABC Stucture of 2nd Wave,Rsi Comes At Above 40 And Stochstic Pco Form Oversold.
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
RELIANCE is expected to reach 2420 in 2 hours chartAs per my analysis, Reliance reaches 2420 as per 2 hours chart.
As per Daily chart,, if the value breaks 2300, then we can expect down trend upto 1800.
Reliance Weekly Time Frame AnalysisCurrent Trend:
1) moving in uptrend parallel channel and at bottom of parallel channel
2) MACD -Some weakness print in histogram. But confirmation not yet(cross over required)
3) at 0.786 level of support
Once it breaks 1Hr Consolidation we can turn bullish on Reliance with First target of 2440
Target to be watch:
Support :
once this level is broken(2300) we can except Reliance turned bearish
Resistance:
First level of Resistance @ 2720 level .
candle Formation: Doji at support followed by two Bullish candle.
Pennant PatternIn technical analysis, a pennant is a type of continuation pattern formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend lines—the pennant—followed by a breakout movement in the same direction as the initial large movement, which represents the second half of the flagpole.
Script = Reliance
Time Frame = 15 min
Bullish flag pattern breakout in RELIANCERELIANCE
Key highlights: 💡⚡
✅On 30Min Time Frame Stock Showing Breakout of Bullish flag Pattern .
✅ Strong Bullsih Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 2415+.
✅Can Go short in this stock by placing a stop loss below 2325-.
✅breakout this can give risk:reward upto 1:4+.
Reliance forecast - 2558 possibleThis is possible forcasting and not a confirmed trade
On a daily chart a bullish diamond formation is forming and yesterday an inverted candle has formed on charts indicating possible reversal.
If this continues uptrend then 2558 target is possible in coming few weeks. SL is 2290 on closing basis.
Circular patterns Publishing herewith my idea about circular patterns for education purpose
i use these patterns in my everyday analysis and getting excellent results
circular pattern helps me in finding the resistance and support levels in advance
curve pattern is my friend i use it to find high growth trade and also a very quick trade up/down
i mostly use it in 1 minute time frame to find a very fast trade, actually always in look for this pattern in every time frame
OM VATS
RELIANCE NEAR DEMAND ZONEReliance is consolidating near it's previous demand zone @ 2300 - 2250 and looking a good buy for a bounce.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Reliance Industries Daily Reliance Industries stand at very crucial points. Good Consolidation seen. If Breakdown comes we can see good downside.
#reliance #nifty #banknifty#reliance #nifty #banknifty
reliance
reliance cross 2 year tend line in 2 or 3 days
macd crossover
high volume in last some days
reliance support to nifty 18000
Reliance industry bullish setup with trend reversal.swing tradin1.double bottom formed.
2.at bottom buying Seen today.
3.consider As trend reversal
5.stoploss 2295.
Target more than 12%.
Time frame -target or stop-loss.
Reliance double bottom. Short term swing tradeReliance has formed the double bottom formation.
Consider it as trend reversal.now one can initiate swing trading with stop-loss 2295 on closing basis.
Target is sell on rise at every 5% gain with 20%, of holding.
Rsi has in oversold zone,giving an opportunity for long-term accumulation.
Reliance RSI Bearish DivergencePrice is making lower lows while the RSI is making lower highs which is clear sign of RSI Bearish Divergence.
Entry
We can enter in long trade after breakout above resistance zone with strong bullish candle.
Stoploss
Below the resistance zone.
Target
Target will be the next resistance zone.
Please Like and Follow
Strong Support reached - 20% Bounce coming?Reliance has been trading in the range of 2250 and 2750 for a while now and has finally reached the price support region again.
The formation of recent Doji in the market further confirm the indecisiveness in the market after the recent down move.
A morning star pattern or a piercing pattern might further improve our confidence, with RSI bottoming out at 30 in weekly and MACD slowly turning bullish as well.
It will be interesting to see if RIL slowly traces its way back to 2750 levels and that would be a 20% move from current levels.
Not an investment reco, just for research purpose.
Thanks for reading :)
Reliance Ready for the Bullish RunReliance has corrected to a good level. The stock is showing very bullish divergence signal.
Holding it for 2750 is a sensible option.
Reliance is trading around last low, which makes it more attractive.
Intraday trade Reliance positive news. Stock is trading near strong support zone.
Long position - >
Entry - ( 2216 ,2225 )
Sl - ( 2210 ,2215 ) respectively
Target - 2240
