Reliance is caught in the 1-2 channel . Till it does not leave the channel upwards wave 3 will never start . It may come back to the end wave 2 . So sad and very bad . Regards
Reason for short
a) M formation
b) weekly breakdown
c) QQE breakdown
d) Good engulfing candle
e) Good iOi Set up for short
f) SL compulsory
Duration 7 days
RELIANCE might take a possible u-turn with a decent stop loss and for good targets enter only if it breaks the given levels
ENTRY- 2810
STOPLOSS -2780
TARGET - 2880, 3000, 3050++
Note- if any trade or value that's gone from the marked levels then that's not our trade just let it go or wait for it to come back
I'm not sebi registered this is my personal...
Stock break neckline also break 50 DEMA
Chart very Bearish
Macd indicate Bearish
Disclaimer This is my personal view for education purpose only
No Buy sell recommendations
Reliance currently traded below short-term moving average and break 5 months support level. Sell Relinace ~ 2800, 2810, with stop 2845, for target ~ 2640
Analyzing the Descending Triangle Pattern on RELIANCE Daily Charts
Introduction:
In the world of technical analysis, patterns often provide valuable insights into potential market movements. One such pattern that has caught the attention of traders is the descending triangle forming on the Reliance Industries Limited (RIL) daily charts. Let's delve into this...
Reliance trying to give a break out with a decent stoploss for good targets
ENTRY- 2955
STOPLOSS -2930
TARGET - 3000, 3050, 3100++
Note- if any trade or value that's gone from the marked levels then that's not our trade just let it go or wait for it to come back
I'm not sebi registered this is my personal view
Please like or boost my idea if you like it or...
what you see and what you feel ?
what you see impotant.
as shown in the chart it is in 3 rd wave.
Of course retraced 23.6 percent of it.
in some cases when 3 rd wave is extended it can retrace 23.6 percent.
It seems here it is extended here,
Normally 4 th wave retraces 38.6 percent of 3 rd wave.
Its result is tomorrow.In case of good result it can lift nifty along...
NSE:RELIANCE is ready to MOVE. Closing outside this zone will drive the way ahead. New Jio plan is out, results are already there. Expecting a positive move from here.
#FRESHVIEW DT 27.04.2024
#RELIANCE INDS CMP 2905+
Monthly Chart
Expanding triangle support at 2300+
Flag formed and breakout at 2600+
Price Momentum
2780-2860-2950-3080-3240-3420-3600+4000
I hope for the best
Stay Connected.
#TEJGYAN
Reliance is done correcting. From monday its gonna send again. Dont miss this run, gonna be epic. Reliance results also good. Everything bullish
Chart mega bullish
Technical Analysis of Reliance Industries
View Expressed are Personal only.
Reliance bouncing from 20EMA on daily time frame, Can touch R2 resistance in near term.
Can go long with Small SL below 25th april Day low.
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...
I have prepared the analysis for reliance and considered recent trend, Chart pattern & Gann methods. On the upside first target will be 2900(First green line) And then if it continues then 2nd target(2nd green line with green apple). Stop loss with be 2963.
This analysis is for study purpose not a recommendation.
