Buy Reliance28/11/2022
Buy Reliance @2660
Sl @2575
Target @2740-2820
Option Spread
Buy @2660CE @70
Sell 2740 @38
Max loss @ 8000 Max Profit @ 17000
Margin @25000/-
RIGD trade ideas
Reliance near the trend line on 1D timeframeRELIANCE near the trend line.
There can be an entry for Intra-day traders for both long and short position.
For Swing traders, wait for the price action to be formed. Buy calls if you find a green candle breaking the trend line. First target can be 2672 ~ for swing traders and the second target can be ~2800 if the market sustains the momentum.
For Intra-day traders you can short puts if you see a red candle tomorrow or go long if the trend line breaks in 1st hour of the session tomorrow.
Cheers. Happy Trading...
Reliance Long above 2630 - TGT - 2800 - SL - 2580NSE:RELIANCE
Open Interest analysis:
1. Short covering is visible in Reliance.
2. 5 day OI change = -4% and price increase 1.3%
Price action:
1. Risk reward ration 3.32
2. Breakout on daily timeframe chart above 2630--
patience: wait for Strong bullish engulfing candle
RIL LongReliance Long only If sustain 2630 at least 30 mins,....If sustain 2630 then sure shot up side....2670 and then gap filling till 2710.....Also observer W pattern till all time high....If sustain above 2700 then fast moment will come (look at previous candles).....
Big Boy Reliance : +15-24% Upside Potential25 Nov 2022 Reliance
Stock is hovering in the zone of 2500 +/-10% for the past 1 year, now showing some strength.
In Play : HH-HL
Summary
- Stock bounced from the VAH zone
- few weeks of low volume PB
- TL likely BO
- ATH is at 2856
Conclusion
- CMP 2618
- Test position can be initiated on BO of TL(as of now BO may fail : Low Volume @ TL)
- Rest Qty can be planned on RT of TL
- Higher targets could be around
• Short Term – 2757/2856/2928
• Long Term – 3038/3258(ATH @ 2856) need to see price action in the ATH zone to confirm higher targets
Wish You Happy & safe trading
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
"Always Respect Risk"
Happy Trading
Jai Hind Jai Bharat
Reliance Industries Daily TFCNH formation is under process in Reliance on daily TF.
Can see 2680 if closes and sustains above 2632.
2680 is major resistance. Above this we can expect 2800-2815.
SL 2526-2530
Reliance - Perfect example of WyckoffSee this chart, it's perfect example if someone wants to know basics of Wyckoff theory
Reliance is at its Declined Trend line Support It's Short-Term Targets are 2679, 2783, 2859, 3170 in 3 to 5 months it is my personal view because it is entered in a new zone
Please Comment about my idea and give your review, I have only 2 years experience so don't follow me blindly, do your own analysis also, it is my second post on Tradingview
Investing is the ability to say "no" so that you can say "yes"Have a wonderful day, my dear friends!
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Reliance is retesting the breakout
Most likely it would hold the support of breakout line and move toward 2700+ until the 2495 (SL for equity segment) is intact.
Target 2700+ in next 10-15 days as a Positional view.
SL : 2545
See the chart for more details.
RELIANCE LOOKS WEAKReliance has broken the upward trend line and looks we are going to see down levels in coming sessions. Sell @ 2600 - 2610 with the SL of 2650.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Mota bhai-Inverse head and shoulderReliance could move towards 2800-3000 levels upon break of inverse head and shoulder pattern on daily time frame. This could correct for a few days to about 2550 levels but it should not close below that level.Nifty is at all time high and this has highest weight on the index so can correct for few days. If trades below 2550 on DCB then the trade should be closed.
Keep a close watch on the price action. Few stocks to lead next rally could be Reliance, HDFC Bank, Kotak Bank and some of the IT names.
RelianceReliance -RIL - facing confluence of resistance.
Windfall tax causing damage?
Will it break below 2500?
Reliance case studyPrice action study on reliance 240 mins chart,
from last 2 trading sessions counter is giving weak signals,
rally started around 2300 levels in counter to level of 2640
counter is trading in ascending parallel channel structure and maintaining its posture around higher end of the structure,,
now in last 2 sessions counter is giving reversal signals,
bearish divergence on RSI with respect to price,
resistance of major descending parallel channel around 2640
RSI indicator have already given breakdown from ascending trend line support,
Now onwards any rally till levels of 2620-2630 should be used to exit your long position,
view gets negated above 2671 levels on daiy closing basis, which means fresh investments only above 2671 levels,
down side on counter breaks levels of 2583 decisively, counter will face heat of selling pressure which would lead to lower levels of 2520-2490-2450,,
Time to be cautious on your investments in this counter, fresh investor should wait for counter to break above 2671 levels or retrace till 2450 levels than enter the trade.
Choice is yours.
Reliance Weekly & Daily Chart Reliance Weekly & Daily Chart ,Bullish Setup ,With Trendline and channels .
Reliance BullishReliance is out of the trend line on positive side. Look for a retest and move up side. If market opens positive, then may not retest.
RELIANCE FALLING WEDGE PANNELReliance support 2600 round levels but
you look falling wedge pannel create sell monday session
Reliance support and resistance Lable on my point of view Reliance support and resistance Lable on my point of view
