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RELIANCE INDUSTRIES SPON GDR EACH REP 4 ORD SHS 144ARELIANCE INDUSTRIES SPON GDR EACH REP 4 ORD SHS 144ARELIANCE INDUSTRIES SPON GDR EACH REP 4 ORD SHS 144A

RELIANCE INDUSTRIES SPON GDR EACH REP 4 ORD SHS 144A

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RIGD trade ideas

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.
NSE:RELIANCE
by RUDRA007
3
INSIDE BAR STRATEGYAn “inside bar” pattern is a two-bar price action trading strategy in which the inside bar is smaller and within the high to low range of the prior bar, i.e. the high is lower than the previous bar’s high, and the low is higher than the previous bar’s low. Its relative position can be at the top, the middle or the bottom of the prior bar. So now come to the theory of inside bar of how to take trade is The classic entry for an inside bar signal is to place a buy stop or sell stop at the high or low of the mother bar, and then when price breakouts above or below the mother bar, your entry order is filled. It’s worth noting that these are the ‘classic’ or standard entry and stop loss placements for an inside bar setup, in the end, experienced traders may decide on other entries or stop loss placements as they see fit. Stop loss placement is typically at the opposite end of the mother bar, or it can be placed near the mother bar halfway point (50% level), typically if the mother bar is larger than average. So I am sharing the entry and the Stop loss through the pictures I am sharing below.
NSE:RELIANCEEducation
by AMIT-RAJAN
2
What reliance is doing on chartsHello everyone, I have already shared Reliance analysis some couple of weeks ago. Our view was bullish for a target of 2600 which was achieved easily. You can re check that analysis for learning purpose. Reliance is still at our target of 2600, which is actually a PRZ (price reversal zone) as per harmonics pattern XABCD. Another interesting thing is the trendline you can see on chart. I have drawn this trendline as per line chart. Both PRZ and Trendline is actually merging at the same point, making it a strong resistance as long as it is below that. Today we get a weekly close which is actually still below this 2600 level (point D marked on chart), so we have to be watchful with reliance as if we open flat on Monday, we might see rejection from this point again. Best chance for upside is only if reliance opens gap up above 2600 and sustain above that with a retest. Keep learning guys... Have a nice weekend.
NSE:RELIANCEShort
by LBilgir