Reliance Industries: 27% away from the topThe biggest company in India (by market cap) has corrected by ~25%
➡️Doji on a key trading area
➡️ Financials are getting stagnant
➡️Will enter when I see a pattern forming
RLI trade ideas
False breakdown or beginning of New rally? #RelianceFalse breakout patterns can sometimes signal the beginning of a new trend, and the end of the current one.
like as the chart of reliance the trend breakout at wave 2 suggesting negative bias in the stock signaling trend reversal. However the phycological theory of EWT suggest the possibility of false breakout and beginning of 3rd motive wave.
How should one trade the fake breakouts.
Refer the Strength index and look if the Oscillators suggest neutral or an oversold zone for reversal
Coming on to Reliance: It is important Reliance to sustain above 1371 for the beginning of W3 a rally towards levels of 1800
Support Levels: Reliance IndustriesReliance Industries has been in a downtrend for a long time.
There is strong support around the 1242 levels.
Other important support levels are 1198, 1109, and 984.
Breaking the current support of 1242 increases the likelihood of reaching 1109 levels.
However, sell volume has considerably decreased, indicating a buying interest in the stock.
20EMA (black line) has to remain above 50EMA (orange line) in the weekly chart for significant upside momentum.
Reliance expected to bounce soon.Here 4 th wave of 3 rd wave is in progress.
It has exactly retraced 50 percent of 3 rd wave.
there is no over lapping between 1 st and 4 th wave.
It is a weekly chart.
It can bounce from here.
weekly stochiastic is in over sold condition.
Main point to note here whether over lapping of wave 1 and 4 takes place or not.
if reliance declines and over lapping takes place..that will not negate the entire structre.
let us hope for the best.
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Bullish RelianceReliance is at a good level. A bluechip stock available at such good levels is a good bet.
Keeping recent low as SL one can look to build good option trades.
Reliance : Where is the next Stop?Reliance broke down from support and gave a weekly close below that support. Looks bearish to me.
The next stop could be 1100. If market is to fall further then this will be an ideal shorting candidate.
If the markets were to reverse from here and we get a close above 1300-20 levels can try a long position and add small quantity.
This is just a view and not a Buy/Sell recommendation. Please study the chart.
Based on the market movement, find your opportunity.
Reliance Inds cmp 1267.60 by Weekly Chart viewReliance Inds cmp 1267.60 by Weekly Chart view
- Stock has formed Bearish Rounding Bottom
- Support Zone seen at 1050 to 1100 Price Band
- Support Zone 1250 to 1300 Price Band turning into Resistance Zone
- Stock might probably show more downside by the Technical Chart setup
- Weekly Basis : Support at 1195 > 1100 > 995 with Resistance at 1360 > 1445 >1535 > ATH 1608.80
- Stock Price gone well below the crossover of both the Falling Resistance Trendline and also the Rising Support Trendline been broken down
Looks like Reliance is at a major supportReliance is at a major support level if broken can lead to some more down side. only hope is 200 DMA around 1170 levels. If it is broken then we can see levels of around 1000. this will be a major correction if it breaks these levels. Hence NIFTY may also be affected.
Reliance Industries Weekly Chart Analysis#Reliance
Key Levels:
Temporary Stop-Loss: ₹1,277.05
Averaging Zone: ₹1,277 - ₹1,144
Strong Stop-Loss: ₹1,130
The Reliance Industries stock is currently trading at ₹1,283.75, witnessing a decline of 4.10% in recent weeks. The key support level to watch is ₹1,277.05, which serves as a temporary stop-loss. If the stock price continues to fall within the range of ₹1,277 - ₹1,144, this zone is considered suitable for averaging. The strong stop-loss level is set at ₹1,130, indicating a critical point for traders to exit if the price breaks below this threshold.
Swing tradingSwing trading is a trading strategy in financial markets where a tradable asset is held for one or more days in an effort to profit from price changes or 'swings'.
The stock has good support at 1280.
CMP : 1305rs
one can accumulate the stock for short term target 1400rs.
ADVANCED OPTION TRADING Nifty option chain is considered to be the best advance warning system of sharp moves or break outs in the index.
An option chain will consist of both call and put options, along with other details. Option chain trades are more informed, as investors can compare different contracts. It can help investors view the strike price, bid price, ask price, volume, and other details for available contracts.
RELIANCE #RELIANCE
Daily Chart
Stock is trading near good accumulation zone
• Strong support zone technically and fibonaccically Bookmark it
A Short Term to Long Term Investment Opportunity in Reliance IndHello Everyone, i hope you all will be doing good in your life and your trading as well. Today i have brought a stock which has formed a pull back and retest pattern in weekly chart stock name is Reliance Industry, it is most famous and most valuable company in india. Reliance was founded by Dhirubhai Ambani and is now promoted and managed by his elder son, Mukesh Dhirubhai Ambani. Ambani's family has about 50% shareholding in the conglomerate.
Stock is really giving good entry at this price as it has already corrected 19%, and now it is showing some strenght, There was huge volatility in market due to USA Election. Today vix has been cool almost 7% means volatility is going to reduce in market. Well if i talk about reliance i think this is giving best entry for long term investment as well as short term to medium term. For short term i already have mention the targets. But i feel it will cross these targets which i mention here and it will give 100% returns in next 2-3 years. So if anybody wants to hold this for long term can hold from these levels.
Technically and fundamentally it is very strong company there is no doubt about it. Now le't discuss about some fundaments.
Strenghts:-
Effectively using its capital to generate profit - RoCE improving in last 2 years
Growth in Net Profit with increasing Profit Margin (QoQ)
Company with Low Debt
Strong cash generating ability from core business - Improving Cash Flow from operation for last 2 years
Annual Net Profits improving for last 2 years
Company with Zero Promoter Pledge
Market Cap
₹ 17,82,145 Cr.
Current Price
₹ 1,317
High / Low
₹ 1,609 / 1,149
Stock P/E
26.2
Book Value
₹ 606
Dividend Yield
0.38 %
ROCE
9.61 %
ROE
9.25 %
Face Value
₹ 10.0
Industry PE
17.9
Debt
₹ 3,57,525 Cr.
EPS
₹ 50.2
Promoter holding
50.2 %
Intrinsic Value
₹ 523
Pledged percentage
0.00 %
EVEBITDA
11.5
Change in Prom Hold
-0.09 %
Profit Var 5Yrs
12.0 %
Sales growth 5Years
9.61 %
Return over 5years
14.7 %
Debt to equity
0.44
Net profit
₹ 77,652 Cr.
ROE 5Yr
8.73 %
Profit growth
-0.59 %
Earnings yield
6.17 %
PEG Ratio
2.19
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
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Reliance Ind - Perfect buy! (Golden ratio + Change in polarity)Reliance industries gave a breakout from it's trading range in January, since then after making a high around 1600 (after split) has retraced 61% of it's upmove. (Fibonacci Golden ratio)
It is also taking support at it's previous trading trading range high, exhibiting perfect 'Change in Polarity'.
Change in Polarity refers to a market structure when price takes support at a previous resistance after a breakout, or when price takes resistance from a previous support after a break down.
Trade details
Enter long above 1300
Stop loss at 1250 (2% from entry)
Target 1580-1600
Buy Reliance for good up move. Buy reliance for good upmove.
Only 25 Rs SL
And for target 100+++
Or when you want to booked.
Long Reliance Industries Between 2585 - 2660 Target 3500Reliance forming bullish Butterfly Harmonic Pattern on weekly charts and going no where up till November 20th. Good Time to accumulate.
Targets marked on charts with horizontal line. Once point B is breached and closed then rally will start.
Few triggers -
Giga factory opening in December.
JIO price hike effect
Hydrogen plant
Windfall tax removal effect
No stop loss as fall is limited.
Bullish Trend in Reliance(Hindi)NSE:RELIANCE It shows good support at 1330-1350 and the next target could be 1500 & 1600 respectively.
The entire thought process has been defined in the video in Hindi
Reliance Industries Ltd in good SupportReliance is showing solid support at this level, setting the stage for a potential 20% upside. This could be an ideal entry point for those looking to capitalize on the momentum. Keep an eye on volume and support levels as key indicators!
Reliance is completed a Head and shoulder pattern.NSE:RELIANCE
Reliance has completed a Head and Shoulders pattern, suggesting a potential target of 1280 based on the measurement from the head to the neckline. This target could act as strong support for a buy opportunity. However, breaking the current support level at 1325 is crucial for this to happen. Keep an eye on how it moves around this level. Timing will be key.
Reliance#Reliance has strong support zone
in between 1250-1270
if price falls to this levels,
try to accumulate for short term reversal rally towards 1700+
RelianceDate 29.10.2024
Reliance
Timeframe : Weekly
Remarks :
Kindly have a close look at support & resistance critical trendline at chart.
If approaches trendline then with tight stoploss, risk reward ratio looks favourable.
Don't forget to keep tight stoploss, if at all stock slips below the trendline the then great weakness at stock as well as at nifty 50.
Regards,
Ankur
Reliance Stock Short termReliance Stock Short term:
1300-1325 is major support for Reliance.
Buy Level is 1320-1340, SL is 1295 and Targets are 1380/1425/1440.
