RIL - a conditional buyThis Index giant is showing signs of breaking a channel. On daily chart, it has formed a rounding bottom. Whereas on technical indicator, RSI shows bullish trend for a medium term momentum. Any breakout above 2580 could bring further rally in the stock. Buy this stock if it sustains above 2580 on daily closing basis with at target of 2800 and a stop loss of 2445
RLI trade ideas
RELIANCE can make an up side move againReliance can give a nice swing or positional opportunity if it breaks and sustains above 2700
or one can buy again when it dips at 2660-2650
with STOPLOSS at 2630-2630 if bought on dip or 2650 if brought on break
Target at 2790, 2830, 2850++
Note: if any trade or value has gone from the place we decided to enter then thats not our trade wait for it to come back or let it go
I am not sebi registered this is my personal view
Reliance sell given on 22 jan , 2660 Target hit, 2620, 2560 nextOn Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
Reliance good fall today as said yesterday 2660, 2550 next TargtOn Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
Reliance 2720 CE Jan expiry and Reliance PE 2700 jan expiry Result point of view trade setup, as market will be opened on 20 Jan 2024, Result effect will come in Reliance, so one can look for 2720 CE available at 45 and 2700 PE available at 35, so in this case, gap up or gap down will give profit, if no volatility came, then exit from the trade on cost to cost on 20 Jan 24.
Please consult your financial advisor to initiate trade as this is for educational purposes.
Reliance ready for 2800 +On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
2700 put option and 2800 call optionResult trade set up, high flactuation in Reliance can be come due to result on 19 Jan 2023, so put option of 2700 at 24 and call option of 2800 at 25 can be bought, if 100 pts gap up or gap down happened, then the value of the options can go 100. If no gap up or gap down came, then minor loss can be booked.
This is for educational purpose, please consult your financial advisor for guidance.
Thanks.
profitable
Certainly! However, it's important to note that writing a profitable trading strategy requires careful consideration, testing, and validation. Pine Script is the scripting language used in TradingView for creating custom indicators and strategies. Here's a simple example of a Moving Average Crossover strategy in Pine Script:
pinescript
Copy code
//@version=5
strategy("Moving Average Crossover", overlay=true)
// Define input parameters
fastLength = input(9, title="Fast MA Length")
slowLength = input(21, title="Slow MA Length")
src = close
// Calculate moving averages
fastMA = sma(src, fastLength)
slowMA = sma(src, slowLength)
// Plot moving averages
plot(fastMA, color=color.blue, title="Fast MA")
plot(slowMA, color=color.red, title="Slow MA")
// Strategy logic
longCondition = crossover(fastMA, slowMA)
shortCondition = crossunder(fastMA, slowMA)
// Execute strategy
strategy.entry("Long", strategy.long, when=longCondition)
strategy.entry("Short", strategy.short, when=shortCondition)
This script defines a simple moving average crossover strategy. When the fast moving average (blue line) crosses above the slow moving average (red line), it triggers a long entry, and when the fast moving average crosses below the slow moving average, it triggers a short entry. This is a basic example, and you should thoroughly backtest and optimize any strategy before considering it for live trading.
Remember, trading involves risk, and no strategy can guarantee profits. Always practice good risk management and consider seeking advice from financial professionals before engaging in live trading.
RELIANCEWait And Watch ??
Look for Low risk, High reward, and High Probability setups-
Things to Remember while Trading with the Trend
1. Know what the trend is.
2. The best trades are made in the direction of the trend.
3. Assume that the main trendline or moving average will hold.
4. The longer the moving average is, the better it defines the trend.
5. Wait for the pullback.
6. Don’t chase the market.
7. Don’t fight the market.
8. Even in the strongest trends there should be some retracement.
9. The closer the market is to the trendline, the better the risk/reward ratio is.
10. Use ADX to determine the strength of the trend.
11. Higher the level of ADX , the stronger the trend, below 20 consider the market to be choppy
12. Hold trades longer in a strong trend.
13. Wait for confirmation of a trendline breaking before reversing position.
14. Know where the Support levels are.
15. Place stops outside the Support levels.
Thank You..
Value creator has started its up trend.On of the most value creaters has started its up trend.
Likely to strike at the red lines shown in the chart,
Its ungoing 3 rd wave with in 3 rd wave seems to be extended one.
i do expect it to reach other end of the channel and breaking it.
But how soon that time will tell.
Like this post if it helps you.
follow me to get updates.
Reliance Short Term TradeOn the daily chart, the stock had formed an inverse head and shoulders,
and has been rising since then. (blue neckline marked on chart).
The level of 2629 has been a temporary resistance after that (yellow horizontal line).
Currently the stock broke through this resistance.
There is a rising volume and atr on and after breakout
Thus, there is a short term trade.
tgt 2754, sl 2592
RELIANCE | Investment Pick📊 DETAILS
Sector: Oil Exploration and Production
Mkt Cap: 1,581,655 cr
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.
TTM PE : 23.09 (Low PE)
Sector PE : 29.20
Beta : 1.25
📚 INSIGHTS
Mid-range performer
Stock with medium financial performance with average price momentum and valuation. These stocks may be affordable and are showing some investors interest.
18.15% away from 52 week high
Outperformer - Reliance Industries up by 0.82% v/s NIFTY 50 down by -1.11% in last 1 month
📈 FINANCIALS
Piotroski Score of 6/9 indicates Average Financials
Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst.
If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you.
🔍 More Analysis & Trade Setups 🔍
For more technical analysis and trade setups, make sure to follow me on TradingView: www.tradingview.com
Time to Sell_ RelianceNamaste!
Any stock can not sustain it's bullish behaviour, without a correction.
Reliance has to correct, before going up again. It is the proved nature of markets.
Why selling any stock is a good idea.
1. To buy it back at a lower prices,
2. To full-fill urgent needs of money,
3. To let the weak hands enjoy the euphoria and not to stay in the markets when there is an extreme optimism.
So, I am suggesting a logical price to book profits in Reliance. The price would be Rs 3100. Why?
Look, the people who would have bought at around Rs 1100, will be getting around 2.9 times of there investment amount. Hence, they will be booking profits, resulting in a correction.
Okay, I will be sell it at the above price, but what if I want to buy it again.
A: You have to wait for greater than 15% correction from All time highs, before buying it again. Because, In India, LTCG is around 10%, so you have to get the stock back at 15% or more correction, to compensate for your extra efforts.
Disclaimer: The analysis I have shared is based on my understanding of the markets. Please do your due-diligence and you are solely responsible for your decisions.