buy reliance indit has form bullish dip crab harmonic pattern. it may retrace till 0.38 5-0.50% of point CD. view negated below 2175.
RIGD trade ideas
Stock of the week (S-1)I have started a new series in which I will provide stocks on every weekend for positional trades with Price action learning.
Stock -1 Reliance
Trendline breakdown is the first sign of trend reversal and then trendline retest is the 2nd sign of rejection and if the market makes price action after the retest, it is the confirmation of trend reversal.
Reliance target @harishwaveanalystReliance share elliot wave analysis
reliance one hour chart analysis price go down 5 wave
Reliance weekly support breakdownNSE:RELIANCE Reliance break weekly support after long time and on monthly looking head and shoulder on top. looks like stock may be underperforming in short term.
RIL at Crucuial Level : Trend Decider for NiftyCheck chart of RIL and Commentary posted.
Disclaimer : This is for educational purpose and and not a trading call. Consult your financial advisor before taking decision, I may or may not have taken position according to this.
H&S pattern formed on Reliance target 2394There are two patterns formation on Charts.
Weekly a triangle pattern and Daily head & Shoulder pattern formed today.
daily target 2392 may be coming.
2nd possible target 2210 in case of triangle pattern breakdown on weekly chart.
RELIANCE2200 PHYSICOLOGY levels support take support
2nd not break previously swing low
(but price action trading setup follow market hold 15 minutes below and the break upper levels then buy okh,
long on Reliance Industries , Intraday positiona support forming change in market structure on the lower time frame , filled the morning gap
RELIANCEIt is breking trendline in weekly chart. It should come up else it will create worries in mind of bulls. And some reversal may not happen in this extended down fall in overall market. So keep reliance in watchlist with index.
Reliance Double Bottom Pattern Double Bomtom Pattern Form In Reliance Company In 15 Minutes Time Frame Good To Buy ....
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RELIANCE CHART PATTERN ANALYSIS Reliance Industries form Inverse Cup & Handle Pattern.. We can see some more fall in Reliance
KEEP AN EYE ON IT…..
WILL RELIANCE RE-TEST 200 EMA WEEKLYReliance stock appears to have breached its rising channel on the weekly time frame, indicating a potential downward trend.
However, there is a possibility that the stock may re-test its 200 Weekly Moving Average, which presents a potential buying opportunity for long-term investors.
Reliance has historically been a "buy the dip" stock, and investors may consider implementing a systematic investment plan (SIP) to add quantity over time. As with any investment decision, it is important to conduct thorough research and analysis before making any trades.
Reliance forming H&S at strong supportWe have seen a bearish move in Nifty and Reliance from couple of days.
Today, Reliance is at a strong support forming head and shoulder pattern at neck line. Wait and watch how the market reacts now.
Relaince intraday and swing trading planprice takes support @2313 and it crosses 9EMA in 15min will go long for tomorrow.
if it breaks 2313 then will wait for price to take retest the same level and going for short trade.
Head and Shoulders in RELIANCERELIANCE has formed head and shoulders top pattern on the weekly chart. The stock is hovering at the trendline, as bulls got rejected this week.
A breakdown from here can take the stock all the way to 200WMA of 2000 and perhaps subsequently toward 1830 support zone .
Keep an eye!
Big Breakout upwards after triangle completionCurrently we are in last leg of correction, which is triangle , once the correction is over we will see a big jump in upward direction. We completed the W and X correction, currently we are in Wave Y correction, which is Zig-zag correction (A-B-C) and wave C is. a triangle.
Reliance Make or Break Zone 2280Reliance Make or Break Zone 2280
Reliance at very important support, if takes support around 2280 ready to fly again.
Reliance: Chart set up and trading strategyReliance
We are looking at Daily chart of Reliance Industries
Observations
- 2420-2450 has the potential to act as resistance
- One may also look at the Red Line of Resistance as potential supply zone
- 2180-2220 has the potential to provide support to the stock
- The Green Line of Support comes around 2163
Given the chart setup,
My view : Rangebound between 2220-2450
My trading strategy: Short strangle strategy for Mar 2023 series
Sell 29 Mar 2500 Call option &
Sell 29 Mar 2200 Put option
Understanding risk profile and reward potential
The strategy has a profit potential of approximately 14.5% till 29 Mar 2023 on Margin requirement and has in built loss protection
- for a fall up to 2142 on the downside and
- for a rise up to 2558 on the upside
Review points for me
2220 on the downside &
2450 /2485 on the upside
The review points should give ample scope to adjust / exit in case view is getting invalidated.
Take care & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
intradayyou can buy on breakout or you can sell at resistance depend on the candle
both side potential
avoid first 15min breakout
wait for 15 min candle closing
targets are marked
if the breakout comes after 10:00 am then the probability of winning will be more.
follow risk management
do your own analysis
do workout
do meditation
start reading books
Triangle Pattern A triangle chart pattern involves price moving into a tighter and tighter range as time goes by and provides a visual display of a battle between bulls and bears.
Script = Reliance
Time Frame = 1 Day
