Reliance industries Stock break neckline also break 50 DEMA
Chart very Bearish
Macd indicate Bearish
Disclaimer This is my personal view for education purpose only
No Buy sell recommendations
RIGD trade ideas
Reliance Positional Short Trade SetupReliance currently traded below short-term moving average and break 5 months support level. Sell Relinace ~ 2800, 2810, with stop 2845, for target ~ 2640
RELIANCE- Big Elephant of NIFTY forms Descending TriangleAnalyzing the Descending Triangle Pattern on RELIANCE Daily Charts
Introduction:
In the world of technical analysis, patterns often provide valuable insights into potential market movements. One such pattern that has caught the attention of traders is the descending triangle forming on the Reliance Industries Limited (RIL) daily charts. Let's delve into this pattern and explore what it could mean for RIL's future price action.
Understanding the Descending Triangle Pattern:
The descending triangle is a bearish continuation pattern characterized by a horizontal support line and a descending trendline. In this pattern, the price forms lower highs, indicating a potential weakening of bullish momentum. Meanwhile, the support line remains relatively flat, signaling a level at which buying pressure may be concentrated.
Analyzing RIL's Descending Triangle:
On RIL's daily charts, we can observe the formation of this pattern, with the stock consistently making lower highs since a recent peak. The horizontal support line is evident, showcasing a level at which buyers have historically stepped in.
Implications for Traders:
1. Bearish Bias: The descending triangle typically suggests a bearish bias, indicating that sellers may gain control as the pattern progresses.
2. Breakout Potential: Traders often look for a breakout below the support line as a confirmation of the pattern. A decisive move below this level could signal further downside.
3. Volume Confirmation: Volume plays a crucial role in confirming pattern validity. Traders should monitor volume trends, especially during a potential breakout.
Key Levels to Watch:
- Support: Keep a close eye on the support level of the descending triangle. A break below this level could signal further downside pressure.
- Resistance: The descending trendline acts as a resistance level. A break above this line may invalidate the pattern.
Risk Management:
As with any trading strategy, risk management is paramount. Traders should consider implementing stop-loss orders and position sizing strategies to protect against unexpected price movements.
Conclusion:
The descending triangle pattern forming on RIL's daily charts presents an interesting opportunity for traders to monitor. While patterns provide valuable insights, it's essential to wait for confirmation signals such as a breakout with increased volume before making trading decisions. Keeping risk management in mind can help traders navigate potential opportunities while minimizing downside risks.
Disclaimer: This analysis is for informational purposes only and should not be construed as financial advice. Traders should conduct their own research and consider their risk tolerance before making any trading decisions.
reliance (day chart)date 03.05.2024
reliance has given breakdown of diamond pattern after topping out at 261%
don't be in a hurry to buy
Reliance trying to give a B.OReliance trying to give a break out with a decent stoploss for good targets
ENTRY- 2955
STOPLOSS -2930
TARGET - 3000, 3050, 3100++
Note- if any trade or value that's gone from the marked levels then that's not our trade just let it go or wait for it to come back
I'm not sebi registered this is my personal view
Please like or boost my idea if you like it or traded it
Thankyou
Reliance will decide the nifty course.what you see and what you feel ?
what you see impotant.
as shown in the chart it is in 3 rd wave.
Of course retraced 23.6 percent of it.
in some cases when 3 rd wave is extended it can retrace 23.6 percent.
It seems here it is extended here,
Normally 4 th wave retraces 38.6 percent of 3 rd wave.
Its result is tomorrow.In case of good result it can lift nifty along with it.
I am not predicting here any thing,but its uptrend still left.
so many noises during result days better to wait to see how it is performing
on that day(tuesday)Please go through my earlier post of reliance.
if this post helps you like it.
follow me to get updates.
GIANT READY TO MOVE.NSE:RELIANCE is ready to MOVE. Closing outside this zone will drive the way ahead. New Jio plan is out, results are already there. Expecting a positive move from here.
Flag formed and breakout at 2600+ #FRESHVIEW DT 27.04.2024
#RELIANCE INDS CMP 2905+
Monthly Chart
Expanding triangle support at 2300+
Flag formed and breakout at 2600+
Price Momentum
2780-2860-2950-3080-3240-3420-3600+4000
I hope for the best
Stay Connected.
#TEJGYAN
******* RELIANCE BUY CALLS ******Reliance is done correcting. From monday its gonna send again. Dont miss this run, gonna be epic. Reliance results also good. Everything bullish
Chart mega bullish
Reliance Long Technical Analysis of Reliance Industries
View Expressed are Personal only.
Reliance bouncing from 20EMA on daily time frame, Can touch R2 resistance in near term.
Can go long with Small SL below 25th april Day low.
VERY VERY BULLISH RELIANCELong and hold, reverse crash coming. Results great, chart ready to send. Nifty also ready with banknifty for a big rally.
Reliance stock analysisstock showing sideways range..9 days ema range is 2890 and reliance Q4 results net profit fall 2% YoY to rs 18951 crore,yet beats estimates
Reliance buy on dip 3025 -3050 upside Target 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
Reliance(INDIA) projection for coming days(21-04-2024)I have prepared the analysis for reliance and considered recent trend, Chart pattern & Gann methods. On the upside first target will be 2900(First green line) And then if it continues then 2nd target(2nd green line with green apple). Stop loss with be 2963.
This analysis is for study purpose not a recommendation.
Reliance is set to make new HighHi
Reliance is set to make new high . The CMP is 2962. It is making bullish cup and handle pattern on daily chart. The swing target would be around 3100.
It is not recommendation. only personal opinion.
Reliance industries is about to sendLong consolidation has come to an end.
Bjp first win in Gujarat.
Strong support established.
Long and just hold.
Stoploss under 2800. Almost impossible to hit.
Ahead of Q4 Result - RelianceReliance Is going to Announce it's Q4 Result today after market on 22 April 2024 but ahead of it when we look at the chart of Reliance we can see there is positivity and it may open or touch 3000 levels and very soon we can see level of 3100.
Disclaimer - Investment and Trading is Subject to Market Risk
Reliance (day chart)Results today, a Nifty major
watch cloud + channel breakout - longs
pitchfork & fibo levels breakdown - shorts
Reliance buy on dip we can see fresh All time high 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
Reliance could fall after breaking the chart patternReliance is showing signs of distribution and once chart pattern is broken good fall could be possible
ReliancePrice is testing the trend line now. Nearest resistance is at 2960 zone. Price have to break it with volume to continue the uptrend.
Buy above 2945 with the stop loss of 2930 for the targets 2959, 2978, 2996 and 3012.
Sell below 2906 with the stop loss of 2920 for the targets 2886, 2871 and 2852.
Check the live market updates.
Hit the like button to Rock !! Show some energy !!
Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
You are responsible for whatever you do.
RELIANCE FOR SHORT TERM SWINGReliance Industries is making continuous Higher-Highs on higher timeframes. So it is very obvious that we can see a new ATH above 3050 (exact current ATH is 3025, but we are taking some buffer as it is one of the most manipulated high beta stock). Target is calculated using the ABCD pattern of Harmonics. Once price tries to break the current ATH, shift to 15 min timeframe and wait for a retracement for entry.
