Multi year breakout in Reliance Multi year breakout in Reliance!
With reliance, nifty is looking strong too! 🤩🚀
RIGD trade ideas
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.
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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
Breakout from inverse head&shoulder patternStock has breached previous all time high levels with breakout from inverse H&S pattern. Let’s watch touching levels of 3000 in upcoming days.
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.
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If reliance moves 15% on the upsideIf reliance moves 15% on the upside, how will the all over Indian market perform....
We got budget and elections too.
Then we got rate cuts happening too.
It will be a great year ahead!!
ATH Break out possibleFacing the same resistance for the third time, Time is lesser every time reaches the same level again, and can be stock of the year
RIL 3100 before National ElectionsRIL 3100 before National Elections.
With Energy Sector on fire ... Expecting some fireworks in RIL too before Elections.
Mota bhai analysis based on my friends demand.... Happy Investing.
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.
Watch the breakout zone carefuliy Fib- The retracement to 38.2% of the immediate swing is strength. The stock is back to the breakout zone which is the support now.
Candlestick - The first candle is the only strong candle post the support at 2517. Rest are very weak candles. Hence I will want to see one more strong candle above 2583 to say the strength still exits.
Conclusion- Since there is a bear candle a close below 2583 will make the trend weak. A strong hrly candle above 2583 will continue the run. In my view tomorrow can be an imp day to gauge the trend of the mkt for next 10-15 days.
long term consolidation breakout (anticipation)entry above the line
stop below the line
consolidation breakout (anticipation)
(parallel channel breakout )
Reliance Positional Target 2600 hit buying recommended near 2200On 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 trend analysisReliance is Uptrend as it is creating channel pattern. any retracement happen and comes my entry price@2318 we will enter in this stock and we have to maintain stop loss@2295 my first target@2500 and second target@2560
Reliance chart studyReliance spot at 2600
Weekly time frame
Horizontal resistance as per previous life high levels, from where counter have changed trend in past,
Bearish wolf wave or wedge can also be considered as per formation.
Need to keep close watch on price action on daily time frame, if counter is not able to breakout and sustain above life high levels, can retrace around 5-7-10% going ahead,
counter have give around 20% move from 2200 levels one way so as per fibbo 50% retrace would give a good 8-10% fall in counter.
life high levels remain a key point as the juncture
Capturing Short-Term Gains with Reliance.Reliance Stock Analysis:
Applying the dual bollinger band swing trading strategy to Reliance stock, let's analyze a recent scenario where the conditions were met:
Breakout Candle: On Dec 14th, a candle closed above UpperBand (20,1).
Volume Confirmation: The volume of this Breakout Candle was significantly higher than the volume of the previous two candles.
MACD Confirmation: Both the MACD histogram and MACD line were above zero, indicating positive momentum.
Previous Candles: In the two candles before the breakout, at least one was red and closed between UpperBand (20,1) and BASIS. Importantly, the red candle did not touch the BASIS.
Conclusion:
By following this swing trading strategy, traders can identify potential entry points in the short term, aiming to capture swift upward movements. However, it's crucial to remember that no strategy is foolproof, and risk management remains paramount in trading. Traders should conduct thorough research and consider additional factors before implementing any strategy.
Reliance cup pattern expected breakoutReliance is making a cup pattern in the daily timeframe but has not given the breakout. you can add in the watchlist for the future purposes.
Reliance : 3 Year of Resistance - Another Point of View📉 Alert! Bearish Pattern Spotted! 🐻
📊 Pattern: Curve Resistance
📌 Symbol/Asset: Reliance
🔍 Description: Stock is around 3 years of curve resistance.
It's another Point of View that noone is talking about.
We can see selling from 2600-2640 levels.
Shorting opportunity !!
👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation.
Reliance buy setupTwo valid OB marked, Tgt previous high, lower timeframe confirmation important for 1 orderblock
Follow RR ration
EDUCATION PURPOSE ONLY
Reliance quarter trend line breakoutReliance has good breakout(2hr TF) after a quarter consolidation. Good target visible on the charts.
Weekly Chart of Reliance Industries "Spotting an inverted head and shoulders pattern in Reliance Industries on the weekly chart! 📈 The stock is approaching the neckline, and a breakout could signal an upcoming uptrend with potential minor corrections.
Exciting times ahead!
#Reliance #StockAnalysis #Investing"
RELIANCE Potential Inverted HnSReliance is in the process of forming an Inverted Head and Shoulder pattern. One can enter on the break of the Trendline. The stock is also at the Important Fib level of .5 and .618 of the previous up move so that adds confidence to the trade
Reliance - At A BreakoutThe stock has been moving in a parallel channel for the last 2 months. Now comes to breach upper level. If crosses the channel and sustains above, may go to 2375 or even 2500 in coming sessions.
If sustains below 2290/80, will go weak.
The risk-reward ratio is very good at this point.
This is only my personal view for learning and sharing purposes, not a trading recommendation in any form.
All the best.
BUY RELIANCE @ 2395 - 2400Reliance has given a breakout of a falling trend line and sustaining above that and looking good towards marked target on the chart.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
