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RELIN trade ideas

Reliance weekly update 07/JUN/24Reason I choose RELIANCE TO trade beacuse of its huge weitage. Huge Weitage stocks to be considered the less volatile & safe instrument to Trade. As RELIANCE is trading in the Range from Few Weeks, Do not plan to execute orders below the 3050 Levels. If the WEEKLY CHART crossed above the level then only I will plan my trade in RELIANCE. MONTHLY RSI > 60. WEEKLY RSI < 60. Once the 60 levels crossed in RSI on WEEKLY BASIS then will try to Create. POSITIONS on DAILY CHART. An RSI HIDDEN BULLISH DIVERGENCE ( Positive reverse Divergence ) is Printed on Weekly Charts. Seems to be the Consolidation to be over & Fresh breakout to likely happen m SOON. Till then Enjoy the Back Seat Game. WAIT & WATCH & REPEAT. HAPPY TRADING
NSE:RELIANCE
by Princetechnicals
Don't Miss This Stock: Reliance's Bright Future- Elliott Wave Disclaimer: Trading in financial markets involves substantial risks. Consult your financial advisor before making decisions. This commentary is not a solicitation to buy or sell. WaveTalks - Market Whispers: Can you hear them? --------------------------------------------------------------------------------------------- Stock Overview: Since January 1996, Reliance stock started an impulsive rise from ₹12.95, unfolding a series of 1-2, 1-2 waves. Currently, Primary Wave ③ (blue) is in progress and has a long way to go. This wave is subdivided into green bracket waves (1), (2), (3), and (4), with wave (4) forming a triangle. Now, we are in bracket wave (5) (green). Current Wave Structure: Wave (5) (green) is subdividing into Yellow waves: Yellow Wave 1 completed at 3024.90 Yellow Wave 2 (one leg could be completed or complete wave 2 could be ended at ₹2718 on June 4th, post-election results) Upcoming Targets: Wave 2 completion is confirmed once Reliance surpasses ₹3050. Targets are: ₹3500 ₹4025 (162% of Yellow Wave 1, which peaked at ₹3024.90) Why Add Reliance to Your Portfolio: Stock bounced sharp upside from 2718 lows = 200 DEMA (White line) Potential to hit new highs. Expected to reach ₹4000 and later ₹5000 in the coming months and years. Conclusion: Reliance shows strong upward potential. Including this stock in your portfolio could yield significant returns. Let’s review the progress in a few months. Have a great Sunday! Visual Summary of Waves: 1. Primary Wave ③(blue) unfolding 2. Bracket wave (5) (green) in progress 3. Yellow Wave 1 completed at 3024.90 highs 4. Yellow Wave 2 completed at ₹2718 ( alternate -only one part in wave 2 completed at lows of 2718 & wave 2 can be confirm complete once it crosses above 3050 highs) Key Levels: Break above ₹3050 confirms next targets Targets: ₹3500, ₹4025, ₹5000 Plan accordingly and stay tuned for updates. --------------------------------------------------------------------------------------------- From WaveTalks Abhishek
NSE:RELIANCELong
by WaveTalks
4
RELIANCE IND GANN ANALYSIS FOR JUNE 2024 EXPIRYReliance Inds carries a weightage of 9.75% in the Nifty 50 Index. It has been the main stay for investors and funds for past decades. Also it has delivered the goods for the investors and will continue to do the same. Recent all time high made was 3029 on 03 June 2024. Earlier High was made in first week of March 2024 at 3024.90. So after 3 months attempts it made a double top and corrected. Earlier correction from March 2024 took it down to 2769 in second week of May 2024. Current correction took it further down to 2718.60 on 04 June 2024. Trend decider level is at 2690 above which trend is positive. Momentum can be seen above the level of 2810. It faces a resistance at 2960 for that it has to cross and close above the level of 2870. For further growth it has to cross the level of 3050 and momentum can be seen above the level of 3140. Major squaring level come s at 2910 above which it will continue the growth. Happy Trading !!! N.B. Not a financial advice to buy or sell. With usual disclaimers as applicable within the reach of this beautiful trading analysis platform. Thanks to the developers of the program for this opportunity to use it freely to express our ideas to the community of traders.
NSE:RELIANCE
by kbr9121965
Reliance will Support Nifty for Upmove?Reliance Industries, a major component of Nifty 50 with more than 10% weightage, is currently trading at 2850, which is the 61.8% FIBO retracement level of the last swing. We might expect a good bounce from this level. However, if this level does not sustain on a closing basis, we might see a fall to 2728, where there is a strong demand/support zone at 2647 - 2728. The monthly and weekly trends (50 SMA) for Reliance are positive, while the daily trend remains sideways for now. Watch Reliance closely, as its movement will likely influence Nifty's direction.
NSE:RELIANCELong
by PriteshPalan
Reliance still no sell signal hold buy trade upside move possiblDisclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target , When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% .. Please note:- It's working on news based and volitile market very well so exit if SL hit
NSE:RELIANCE
by JaiPrakashShuklaHarmonicTrader