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RELIN trade ideas

RELIANCENSE:RELIANCE **Date:** 30/09/2024 **Chart Pattern:** Triangle Breakout **Time Frame:** Daily Chart **Buy at CMP:** 3020, add more on dips until 3000 **Target:** 3340 (within 4 months) **Stop Loss Level:** Close below 2995 --- **Disclaimer:** This trade idea is for informational purposes only and does not constitute investment advice. Investing in financial markets involves risk, including the potential loss of principal. Please consult with a qualified financial advisor before making any investment decisions. Past performance is not indicative of future results.
NSE:RELIANCELong
by vkj123
Stock Opportunity: Reliance Consolidation BreakoutBack in December 2023, Reliance gave a major breakout after a 2-year consolidation period and has since rallied 23%. Currently, the stock is trading near its previous breakout level, from which it reversed three times in the past, signaling a potential opportunity for further upside. However, investors should be cautious as the stock is trading below its 200 EMA on the daily timeframe. While the fundamentals remain strong, it's essential to keep an eye on technical levels and manage risk accordingly. Stay informed and trade smart! 📊⚠️
NSE:RELIANCELong
by TechnoTrader10
Reliance Industries Ltd. ( potential to break all time high) Sector: Oil Exploration and Production WTF as we can see MTF & DTF structure bullish and price makes HH & HL pattern and now price in HTF demand zone ( previous resistance) with RSI bullish divergence and bollinger band lower band support in DAILY TF. LTF say 1H mitigation in DTF demand zone with RSI bullish divergence and bollinger band lower band support. on DAILY TF RSI N BOLLINGER BAND also support the IDEA... price may face resistance at 2975-3050 as DAILY supply zone as well as HTF supply zone.... on the other hand PA moves against our anticipation, 2700 level on DAILY closing basis act as stop loss... so keep in mind and plan your trade accordingly... Who's gonna trade with me for this trade IDEA let me know.....
NSE:RELIANCELong
by RISINGSTONE
2
Reliance - The Elephant can Turn EverythingReliance has been in a impulse since March 2023 from lows of 1979.15 to 2630.95 was size of Wave 1 & it retrace exactly 0.618% in wave 2 as marked in chart. Wave 3 starting from 2220.30 to 3024.90 was equal to Wave 1 in size or slightly bigger than wave 1 & Wave 4 did retrace exactly 0.382% as shown in chart. Wave 5 is exactly inverse 1.618 of Wave 4 fall. This entire Impulsive structure is a good example to study wave structure & understand fibonacci relations between Elliott waves & how a impulsive wave follows a trend channel. So is the Fall Over ? Ideally it has pulled back to previous degree Wave 4 which could be a good demand zone & A equals to C has also been achieved but daily positive close is first sign of bottom & we may see at least 3 Waves bounce or a new Impulse starting on upside & this could mean the Elephant could turn the market sentiment positive.
NSE:RELIANCELong
by churiwalvikram
2
Great opportunity to buy Reliance IndustriesHello, Every time you talk about the companies to invest in the India market, a top company that comes to most people's mind is reliance. I had a close look at reliance and below is my view. Business Model Overview: Reliance Industries Ltd. (RIL) operates in various sectors, primarily energy, petrochemicals, retail, telecommunications, and digital services. Its diverse revenue streams come from refining and marketing, petrochemicals, exploration and production, retail (through Reliance Retail), and telecom (through Jio). This diversity provides a moat for the company, making it resilient to sector-specific downturns. Revenue and Financials: As of 2024, Reliance has performed well, increasing its stock price by over 13% from January to October 2024. The stock reached IRN 3200 in July. Reliance's market cap remains strong at ₹19.82 trillion, and its price trends suggest growth despite short-term corrections​ as shown below. Technical Analysis: On the technical front, Reliance Industries has experienced a sideways corrective phase since reaching its peak in July 2024. After a decline in the recent months, the stock is trading at around ₹2,813, following a slight dip in September. The stock is currently at the bottom of the correction and therefore at a great point for entries with target at INR 3200. Opportunities for Reliance Retail Expansion: Reliance Retail is targeting 20% annual growth, outperforming the market's expected 10% Compound Annual Growth Rate (CAGR). This aggressive expansion strategy is set to capitalize on both urban and rural markets, leveraging its extensive infrastructure and growing digital footprint. Renewable Energy Leadership: Reliance is positioning itself as a leader in green energy by planning to establish 20GW of solar PV capacity by 2026. This includes significant investments in battery production and continued strategic advancements in oil-to-chemical (O2C) and oil and gas (O&G) sectors. The company’s emphasis on sustainability reflects its ambition to dominate the renewable energy market while maintaining profitability in traditional sectors. Operating Expense Control: There is an expectation that the growth in operating expenses will moderate in FY25, leading to improved margins as expansion efforts stabilize. Risks to Consider for Reliance Supply Chain and Costs: Rising freight costs and limited international market presence pose challenges. The company must also navigate the delicate balance between sustainability initiatives and profitability amid increasing global supply overcapacity in various sectors. Oil and Gas Market Volatility: Reliance faces the risks of tight crude oil supply, which could affect margins in its refining and petrochemical segments. Additionally, regulatory changes impacting fuel and rising competition from Chinese exports and imports under trade agreements could create market pressures, challenging Reliance’s competitiveness in global markets. Final Recommendation Given Reliance's diversified business, strong retail growth, and strategic investments in renewable energy, it remains a buy for long-term investors. The stock is trading near its correction lows, presenting a potential buying opportunity at current levels (around ₹2,813). The target price should be set at ₹3,200, with a focus on monitoring key risks like crude oil supply constraints and competition. Good luck!!
NSE:RELIANCELong
by thesharkke
2
Reliance Industries Bearish Outlook with Crucial Support at 2900Reliance Industries is currently trading in a no-trade zone between 2890 and 3080 showing signs of sideways movement. The stock is testing its lower support level at 2900 and if this level is breached we may see further downside. The overall trend appears bearish for now, with RSI also reflecting weakening momentum. Traders should watch for a break below 2900 which could trigger further selling pressure and intensify the bearish sentiment. A close above 3080 would be needed to shift momentum back toward the bulls.
NSE:RELIANCE
by Marketik
1