Reliance IndustriesReliance Industries:
CMP: 2,203
Crucial Line - 2170-2180
Blue line is crucial if it breaks on a weekly basis it can test yellow support zone.
RLI trade ideas
3 RISING VALLEYHow to find the TGT of (3 RISING VALLEY) . .
Highest Price of 2nd Peak+((High Price of 2nd Peak-Low Price of 1st Valley)*0.58)
TGT 2652
2527+((2525-2311)*0.58) = 2652
SL 2480
Bullish Shark in RelianceBullish Shark in Reliance (SL on 15 min. candle close)
PRZ for Buy 1940
SL 1800
Target : 2095, 2245
CMP 2326.95 @ Feb 02, 2023
Chart by CA Savita Rehlan
Reliance industries at attractive priceLong position in Reliance industries can be initiated with a stop loss of 2150 on a daily closing basis.
Points considered:
It is trading at 2203 level which is lowest in last 18 months.
Taking support at horizontal support which has not been broken in a long time.
RSI near oversold zone.
Please do your own study before entering any position.
Institutional Buying Zone Looking at past data, it is visible that: whenever, reliance comes to this zone and breaks out, it rallies, candle after candle, and has given 18% and 30%
returns in almost 1 month. Reliance is at the same zone and at the bottom of market structure, it has formed 2 more bullish confirmations.
1. liquidity grab- Reliance broke the support zone and trapped short sellers and used that liquidity to burst out
2. Multiple Bearish Anomalies- As reliance approached the zone, it has a type of stopping volume, like a person slamming the brakes, red candles came with high volume but with very little downward price movement and started forming lower wicks.
Even a good time to buy for investments.
Target: 2754
Stop loss: 2180
Risk:Reward- 1:5
Keep It Simple
Hammer PatternHammer candlesticks typically occur after a price decline. They have a small real body and a long lower shadow.
The hammer candlestick occurs when sellers enter the market during a price decline. By the time of market close, buyers absorb selling pressure and push the market price near the opening price.
The close can be above or below the opening price, although the close should be near the open for the real body of the candlestick to remain small.
The lower shadow should be at least two times the height of the real body.
Hammer candlesticks indicate a potential price reversal to the upside. The price must start moving up following the hammer; this is called confirmation.
Script = Reliance
Time Frame = 1 Day
RELIANCE2670 above limit order buy consider my side because price stay 1 hr sustain
and nifty also buy resistance break okh
Reliance - Looking week
Reliance Stock analysis report.
Reliance has formed Head and shoulder on Two years trend (around 2400 levels).
Resulting in downtrend and showing signs or testing 1800 Levels.
While Having this in mind
It has also formed Head and shoulder (Smaller one) supporting bigger one.
Target 1 - 2200 has been met and now sideways around this level.
Further breakdown will take it down to 2160 levels...
Post 2160, stock can be analysed about retesting 1800 levels.
For swing tradeRsi divergence in Reliance on daily time frame. Average line of rsi is just about to cross.
Morning Star Loading...🔄
#Reliance
- At a Strong support
- Showing signs of reversal
Disc :- Morning star is confirmed only if it closes strong. Not a buying recommendation.
RELIANCE2200 LEVELS cross and 1 day closing candle
market break upper resistance levels then buy consider okh
buy reliance indit has form bullish dip crab harmonic pattern. it may retrace till 0.38 5-0.50% of point CD. view negated below 2175.
Stock of the week (S-1)I have started a new series in which I will provide stocks on every weekend for positional trades with Price action learning.
Stock -1 Reliance
Trendline breakdown is the first sign of trend reversal and then trendline retest is the 2nd sign of rejection and if the market makes price action after the retest, it is the confirmation of trend reversal.
Reliance target @harishwaveanalystReliance share elliot wave analysis
reliance one hour chart analysis price go down 5 wave
Reliance weekly support breakdownNSE:RELIANCE Reliance break weekly support after long time and on monthly looking head and shoulder on top. looks like stock may be underperforming in short term.
RIL at Crucuial Level : Trend Decider for NiftyCheck chart of RIL and Commentary posted.
Disclaimer : This is for educational purpose and and not a trading call. Consult your financial advisor before taking decision, I may or may not have taken position according to this.
H&S pattern formed on Reliance target 2394There are two patterns formation on Charts.
Weekly a triangle pattern and Daily head & Shoulder pattern formed today.
daily target 2392 may be coming.
2nd possible target 2210 in case of triangle pattern breakdown on weekly chart.
RELIANCE2200 PHYSICOLOGY levels support take support
2nd not break previously swing low
(but price action trading setup follow market hold 15 minutes below and the break upper levels then buy okh,
long on Reliance Industries , Intraday positiona support forming change in market structure on the lower time frame , filled the morning gap
