Buy reliance for a target of 3050/3200Buy reliance for a target of 3050 in 5-6 trading sessions.
Can be held for a target of 3200 in in one month
RIGD trade ideas
Reliance_Head & Shoulder PatternWhat Is the Head and Shoulders Pattern?
A head and shoulders pattern is used in technical analysis. It is a specific chart formation that predicts a bullish-to-bearish trend reversal. The pattern appears as a baseline with three peaks, where the outside two are close in height, and the middle is highest.
The head and shoulders pattern forms when a stock's price rises to a peak and then declines back to the base of the prior up-move. Then, the price rises above the previous peak to form the "head" and then declines back to the original base. Finally, the stock price peaks again at about the level of the first peak of the formation before falling back down.
The head and shoulders pattern is considered one of the most reliable trend reversal patterns. It is one of several top patterns that signal, with varying degrees of accuracy, that an upward trend is nearing its end.
A head and shoulders pattern is a technical indicator with a chart pattern of three peaks, where the outer two are close in height, and the middle is the highest.
A head and shoulders pattern—considered one of the most reliable trend reversal patterns—is a chart formation that predicts a bullish-to-bearish trend reversal.
An inverse head and shoulders pattern predicts a bearish-to-bullish trend.
The neckline rests at the support or resistance lines, depending on the pattern direction.
look good for quick 4 to 5% return reliance can give quick 4 to 5 % in upcoming days , reason behind it trendline breackout as wll as devedend date is comming so buyres will entre in the house....
Reliance Date 11.08.2024
Reliance - For swing trade
Timeframe : Day chart
Remarks :
1 For long side, wait for price/candle to close above the mid-term trendline.
2 It is also important to see fibonacci levels. When price is above 50% or 61% & also above support trendline will be called stable bullish.
3 One can also apply 50,100 & 200 ema on day chart. And use fibonacci & ema crossover for both bullish & bearish signal to enter either side trade.
4 The mid-term support trendline will also act as resistance until n unless price is making higher highs but is closing below or trading below it.
Regards,
Ankur
Reliance - PositiveStrong support area 2880
Bouncing back from support
Risk to reward favorable
Break of Trend Line done
Ready for wave 2
Next stop probably 3050 3060
RELIANCE losing its steam from the upsideHi
as being seen from the weekly charts of RELIANCE INDUSTRIES, selling volume has increased along with bearishness seen in the indicator's part , that is to say RSI also showing divergence , with incease in the stocks price and it registering new highs, the RSI did not scale new highs.
also the RELATIVE STRENGTH wrt to NIFTY is also moving southwards.
anticipation is not rewarded in the stock markets, Reaction to actions does .
but i observed this and i guess this may now move in a range going forward with prices going down with time.
RIL looks buy based on Daily charts for 8% upside in 2 MonthsRIL looks buy based on Daily charts for 8% upside in 2 Months.
LTP - 3012
SL - 2950
Targets - 3250+
Timeframe - 2-3 Months
Happy Investing.
ReliancePrice faced resistance at 3050 zone and it is falling from it. Now it has reached the support zone.
Buy above 3022 with the stop loss of 3006 for the targets 3040, 3058 and 3074.
Sell below 2984 with the stop loss of 2998 for the targets 2970, 2952 and 2936.
Check the live market updates.
Hit the like button to Rock !! Show some energy !!
Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
You are responsible for whatever you do.
Reliance Industries LtdSupport Level: ₹2,716
This is a critical support level, as indicated by the orange line on the chart.
The stock price is approaching this level, which could provide a buying opportunity if the price rebounds.
Resistance Level: ₹3,212
The upper boundary of the rising channel acts as a resistance level.
A breakout above this level could signal further bullish momentum.
Stop-Loss: ₹2,708
A stop-loss slightly below the support level helps protect against further downside if the support fails.
This level minimizes losses while allowing for potential upside gains.
Target 1: ₹3,000 - Psychological Level
Set the first target at ₹3,000, a psychological round number where traders might take profits.
It offers a conservative approach given the current pullback.
Target 2: ₹3,212 - Upper Channel Boundary
The second target at ₹3,212 aligns with the upper boundary of the channel,
representing a potential reversal or continuation point.
Technical Insight: Testing Channel Support
Buying Opportunity.
Reliance 1 hour Levels for swing Traders #Option's Certainly! Here are the intraday trading levels for the Reliance :
Intraday Trading Levels:
For intraday trading in Reliance, consider the following levels:
Support & Resistance Trend Lines from Daily Chart: These trend lines provide important support and resistance levels.
Previous Day High (PDH) and Previous Day Low (PDL): These levels act as support and resistance during live market hours.
Remember that trading involves risks, and it’s essential to have a well-defined strategy and risk management plan.
NOTE
#This channel Purpose to share market ideas.
Thanks for Watching🙏
Reliance Industries Approaching Key Demand ZoneReliance Industries ( NSE:RELIANCE ) is approaching a significant daily demand zone. This demand zone is noteworthy due to its historical impact: following its formation, Reliance has broken through previous resistance levels and reached an all-time high.
Key Observations:
Strong Demand Zone: The current demand zone has demonstrated substantial strength in the past. Its formation preceded a major breakout to new all-time highs, highlighting its robustness.
Breakout Confirmation: After this demand zone formed, Reliance surpassed its previous resistance levels, underscoring the demand zone’s significance in driving the upward momentum.
Opportunity: Given the strength of this demand zone, the current price level presents a potential high-reward trading opportunity. Entering trades at this demand zone could offer an advantageous risk-reward ratio.
Disclaimer: This analysis is for informational purposes only and does not constitute trading advice. Always conduct your own research and consult with a financial advisor before making investment decisions.
RELIANCE BULLISH TGT 3080-3170-3250 SL 2880 Reliance Industries Ltd. is an interesting chart with following
1. RSI on D/W/M above 60
2. ABCD Pattern under formation on weekly chart
3. Price crossed above 20 Week SMA during the week
Can be a Good risk reward with buy on dips and dips as major support exist at 2870-2880 zone being daily and weekly 20 SMA support
Lets see how it evolves
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
RELIANCE - LONG - 1 DayOne can go long RR IS 1:1
With swing low SL. So accordingly Target Marked Too
RELIANCE - Breakout Retest??With crude prices falling and RIL getting a waiver to buy Venezuelan crude..the margins should improve going ahead.
The price has done a breakout retest of its recent short term breakout and closed right at the neckline..
If the stock can bounce from here...then there is a short term trade here..
Long above 3025 with stoploss below 2950 or ideally below 2875.
The stock could retest its old highs of 3200 and a break above that could also be good for the markets in general. On the way up there is a results gap-down that needs filling.
RELIANCETrading near support zone 2900-3000
This is just an idea
Trade or invest at your risk
Consult your Financial Advisor before trading or investing.
Reliance trendline retest.If you look at the weekly chart, reliance was making Flag and Pole
As of now, it has broken the flag, and comeback for retest on weekly chart.
It it manages to remain above the flag, it may start a fresh rally, its good time for entering reliance when it comes close to the flag with the stoploss as flag
Reliance set for fresh RallyI am not too optimistic about Reliance in short term, however, I feel that Reliance has made 1-2-1-2 structure, and all set for a fresh rally starting Thursday. It should be a quick rally to cover about 200 points or 5-6 percent, before the budget, post which it should enter sideways zone..
Hourly Chart can show that its resting on 78% retracement, and a clear AbC wave.
Targets -
3275
3350
3450
Reliance industriesThis is educational purpose only, consisting of Stock market views based on price action,
Elliott Wave & Fibonacci. Views expressed here are not for investors/traders.
Do your own due diligence before investing/trading.
RELIANCE 8Hr TF! ** Shares of Reliance Industries
RELIANCE1!
down 2.2% at 3,037 rupees; among top losers in Nifty 50 index
NIFTY
which is down 0.7%
** Co reported first-quarter profit below estimates on Friday, hurt by weak performance at energy and retail segments
** Oil to Chemicals (O2C) earnings in FY25 seen muted considering weaker Q1 and uncertain margin environment over rest of year, ICICI Securities said in a note!
Reliance Elliot wave Elliot wave 4 may finished at the level of 2758
This analysis is my own idea.
I don't recommend taking trade based on this idea.
consult your SEBI registered adviser to Know the market risk before trade.
Reliance At a S/R level3000 is a Strong Support for reliance , you can see from the picture ,
We assume that a strong buying may follow from this level, This level will be an accumulation zone
