Reliance - Bullish again and bouncing from strong supportLast 2 months Reliance was down due to Bonus Issue, spectrum allocation to skyline without auction etc etc. But value buying has emerged and as expected big players accumulated this stock and given buy recommendations in last few days is lifting the price. Risk - RBI policy in Dec24 but its golden mine for medium to long term investment. Disney deal, work with NVIDIA is sure price rise more than 100% or more in 1 to 2 years. Indias No one company proves it again they will multiply wealth every year.
RIGD trade ideas
Reliance Stock Retrace 78% Then Price Show MomentumPRICE CMP 1309
1. ABC Elliot Wave Correction in Stock Looks Like Complete.
2. Price has Engulf the last five candles and has also made breakout.
3. RSI is also above 50 and MACD is also showing a reversal.
4. Because the price has 78% retracement, the Risk Reward is also good.
The above is my personal view on the stock which I have shared for learning and observation purpose. This is not a trading advice in any form.
[Positional] Reliance Buy IdeaNote -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives
RELIANCEHow's the Josh Traders??
Here is a catch, Reliance industries is showing a bullish stance many TV analysist are Bullish on reliance, Everyone is Saying that Nifty has made its bottom and new highs coming soon.
BUT WAIT !! HOLD ON.....
Market has its Own structure and Travels along with its Waves (Elliot Waves),
I have a Bold Judgement in Reliance beacuse Wave C is Still pending (WAVE ABC ARE CORRECTIVE WAVES IN ELLIOT WAVE THEORY)
So Short Reliance Ind @1310-1330
Stoploss @ 1350
Target @ 1150
NOTE : This is for Educational Purpose please take trade according to your financial Advisor.
HAVE A GOOD DAY TRADERS.
Reliance Industries Dragon Fly Doji in Weekly chart at SupportHi this is Kapil,
Reliance Industries took support at 1257 on weekly and monthly support area, Made Dragon Fly Doji on weekly chart as well
Bulls can be seen pulling the price back above the support level of 1237.
after 43% upside swing in one year from oct 2023 to oct 2024 the stock looks in minor consolidation period
to a possible reversal we can plan adding reliance in our portfolio with annual returns of 25-20% for 2025 year.
Next support below 1200 is at 1004. So add near here and @1015
Near term targets are 1405 and 1569 in 2025-2026.
Special Note- Reliance will actually be used as index management tool so every hourly oversold portion can be seen
as possible reversal for intraday basis.
Consult your Financial advisor before making any decisions
Technical AnalysisTechnical analysis is a means of examining and predicting price movements in the financial markets, by using historical price charts and market statistics. It is based on the idea that if a trader can identify previous market patterns, they can form a fairly accurate prediction of future price trajectories.
What exactly are the two types of technical analysis? Chart patterns and technical (statistical) indicators are the two main types of technical analysis. Chart patterns are a subjective type of technical analysis in which technicians use certain patterns to indicate regions of support and resistance on a chart.
Reliance - End of correction at 1250?Reliance: CMP 1250
The 5 wave impulse from March 2023 lows at 990 level got ended at 1610 levels and price was falling since then.
Price has achieved the extended target of 1.68% at 1249 and halted. Also retraced the entire move by 50%
Price is also at the confluence zone of previous resistance. If the price action supports, Price should start a fresh impulse from here, with invalidation of 1220 on DCB
6-Key Factors to Consider Before Buying a New Stock1. Understand the Business
Company Overview: Learn about the company’s business model and the industry it operates in.
Market Position: Assess if the company is a leader, challenger, or a new entrant in its sector.
Management Quality: Research the track record and credibility of the company’s leadership team.
2. Analyze Financial Health
Revenue and Profit Trends: Check for consistent growth in revenue and net profit.
Debt Levels: A lower debt-to-equity ratio is generally safer.
Profit Margins: Compare the company’s margins with its industry peers.
Valuation Metrics:
P/E Ratio: Helps gauge if the stock is overvalued or undervalued.
P/B Ratio: Compares market value to the company’s book value.
Dividend Yield: Look at the consistency of dividend payouts, if applicable.
3. Assess Market and Industry Trends
Sector Performance: Identify whether the industry is in a growth phase.
Economic Impact: Factors like interest rates, inflation, or regulations can influence the stock.
Competition: Understand the competitive landscape and any potential threats.
4. Use Technical Analysis
For traders relying on technical indicators, consider the following:
Trend Analysis: Identify whether the stock is in an uptrend, downtrend, or sideways market.
Support and Resistance: Check critical price levels for potential entries.
Volume: Higher volumes indicate stronger market interest.
5. Evaluate Risk s
Volatility: Is the stock prone to significant price fluctuations?
Regulatory Risks: Ensure there are no ongoing legal or compliance issues.
Sector Risks: Some sectors, like technology, can be highly volatile compared to utilities.
6. Align with Your Investment Goals
Time Horizon: Decide if this is a long-term investment or a short-term trade.
Risk Appetite: Invest based on your risk tolerance and financial capacity.
Diversification: Ensure the stock adds value to your portfolio without overexposure.
Final Thoughts
Investing in stocks requires diligent research and careful planning. Always cross-check your analysis with reliable data sources and consult a financial advisor if necessary. Avoid emotional decisions and focus on long-term wealth creation.
Reliance - Stuck in the ZoneWith downside support at 1270 & 1235
and upside resistance at 1300 & 13301
Reliance currently is stuck in the zone
Though trend has been broken with a force
it still needs to fill the gap created before moving ahead
Expecting it to remain sideways for a brief period of time til it breaks strong resistance or strong support
RELIANCE IND - BLUE CHIP STOCK FOR LONG TERMCan Enter at 1260
Target - 1600,2000
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍
Data Trading in optionsOptions data captures information on options contracts, including pricing and trading volumes, useful for investment strategies. Discover our guide and top options data providers.
By analysing the information provided in the option chain, traders can identify potential trading opportunities and make informed decisions about buying or selling options contracts. Option chains are used by traders to analyse and evaluate the market's expectations of an asset's future price movements.
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.
if this post helps you don't forget to like.
follow me to get updates.
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.