#Reliance cash : Go long above 2412 in cash#Reliance cash -Positional trade
05.03.2023
Resistance zone at 2395-2410 levels
Go long above 2412
Stoploss at 2370
Target 2455-60/2500
Cmp 2383
(Avoid buying before 2412 level)
RIGD trade ideas
Reliance Long TermHalf Bullish bat pattern formed in the previous swing. The demand zone is around 0.618 retracement zone (golden ratio)—prospective targets 0.5 and 0.618 retracement zones. Also, there is a trendline it is respecting as a resistance.
reliance break or back from 2300 ???2300 is major support.
strong hammer near support indicated buyers want to push hard upside
trend could be change to positive side.
this above term will satisfy,if 2350 above green candle should formed
we can easily check with tgt -2400\2600\2760
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if 2200 break than wait for other one red candle
follow with 2150\2000.
*hammer from base strong indication for trend will be change negative to positive.
tgt will set from support to resistance.
also known as trend reversal setup
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if 2200 break than wait for other one red candle
follow with 2150\2000.
*education purpose only
plz confirm their financial advisor before buy
=thanks=
Reliance Stock Analysis (Short Term)(01-03-23)Reliance Stock Analysis (Short Term)(01-03-23)
2295-2305 is Important Daily Support For Reliance and also creating a Double Bottom Near Support.
If Reliance Tests Support area today and Forms a Reversal Candle in Daily Timeframe,
Good Opportunity to Build Long Near 2290-2300. Stop Loss is 2275 And Targets are 2366/2384.
Since a Dynamic Trendline is holding Reliance Stock Downtrend near 2385, Book 80% Quantity near 2384
and TSL remaining 20% till 2460. Good RR which is almost 1:3 to 1:5.
Reliance Double Bottom & RSI DivergenceReliance has formed double bottom pattern on daily chart. While the RSI is making higher low which is clear sign of RSI Bullish Divergence.
Entry
We can go long on open of next candle.
Target
Target 1: We can keep our 1st target at the nearest resistance which will also the neckline of the W pattern as marked on chart.
Target 2: Once the 1st target is achieved & price gives breakout above the neckline of the W pattern 2nd target will be the next resistance as marked on chart.
Stoploss
We can keep stoploss below the support zone.
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Reliance Industries - Daily Time FrameSharp rejection from a retracement of 0.382 of the previous swing.
It tested the trendline multiple times.
Currently in the demand zone, if that is broken, we can see more downside—targets in the chart.
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
LONG RELIANCELong Reliance Futures at current market price @ 2380 and Target Till 2500-2600 as 1st and 2nd target.
Stop-loss - 2200.
Reliance bearish viewReliance has been respecting the downward sloping trend line . Ideally it should go towards 2290 to grab the liquidity over there & re-test the trend line again. if the re-test fails to break the trend line then we can see a sharp 100 point drop towards the next liquidity point.
P.S: this view is negated if Reliance breaks the downward sloping trend line .
Reliance Showing Initial Sign Of Weakness!Reliance Showing Initial Sign Of Weakness Near ~ 2424, And Weak Volume Appears Hourly Chart. Sell Near ~ 2425, 2435, With Stop ~ 2451, For Target ~ 2330. Expected Target Feb Expiry.
RELIANCE 15M TIMEFRAME On 15M timeframe Reliance industries Trading in the Channel. Looks a good price action. Trade at your own analysis too.
ReliancePrice is consolidating in a narrow range. Buy above 2400 with the stop loss of 2370 for the targets 2430, 2470 and 2510. Sell below 2350 with the stop loss of 2380 for the targets 2320, 2280 and 2240.
intraday relianceboth side potential
you can buy on breakout or you can sell at resistance
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
