RELIANCE1! trade ideas
Buy Setup with Good Risk/Reward Reliance has been consolidating for a few days in a range and yesterday we saw a Doji on Daily Charts and Today Reliance price closed above High of yesterday's Doji. Yesterday price was rejected at lower levels and traders are ready to take it higher seems like consolidation is about to get over.
Here 4 Digit Gann Roadmap for Reliance for next 3-6 months is:
2094 2117 2140 2163 2186 2209 2233 2257 2281 2305
As we have seen from 2094 Gann level, prices closed above 2117 Gann level indicating further rise in prices in next few days and months.
Disclaimer :
Trading is never ever recommended as it is injurious to mankind. This is purely my study based on technical charts and for educational purpose only. Please do your analysis before taking any trades given by me. I MUST not be held responsible for any profit or loss out of any trades you take on our advice. All Disclaimers Apply.
Reliance Showing Strength on ChartsToday, despite a weak market, Reliance and TataSteel were very strong and held Nifty really well from falling. Reliance is coming out of its consolidation and likely to resume its uptrend very soon.
Buy Reliance only and strictly above 2125 with SL 2090 and hedge it properly with Options to protect from sudden fall in market or Reliance if any.
Gann roadmap for Reliance would be 2094 2117 2140 2163 2186 2209.
Once Reliance crosses 22110-20 levels, then there will be a sudden buying interest in it and this may start rising in the 4th gear. Till then, we just have to wait.
Disclaimer :
Trading is never ever recommended as it is injurious to mankind. This is purely my study based on technical charts and for educational purpose only. Please do your analysis before taking any trades given by me. I MUST not be held responsible for any profit or loss out of any trades you take on our advice. All Disclaimers Apply.
Bullish#Reliance looks good for a #BTST for a target of 2153. Today price volume action looks strong and can trigger short covering. Good to go with a protected bullish spread.
Reliance FuturesReliance Futures
LTP: 2155.95
Support:2100.00
Resistance:2180.00 / 2222.15
15m Chart
The chart is in an uptrend since 2nd July
Candles are taking support at 12 DEMA
RSI and MACD are both above the horizon which indicates a bullish trend
Hourly Chart
2100 seems like a very strong support level
Looks like the charts have made a cup and handle pattern which is a bullish pattern
4 Hour Chart
the candle has closed above the 50 DEMA which is a buying signal
The 12 and 26 DEMA have still not crossed on the chart but MACD shows a bullish reversal
RSI has closed above the 50 mark which is a bullish signal
Buy and hold for short to medium term for targets of 2222.00+
Reliance speeding on 4th GearReliance has been bullish for a few days and Today it has a breakout on Hourly chart and seems like it has picked momentum and speed on 4th gear. Buy Reliance@2250-55 with SL 2220.
Disclaimer :
Trading is never ever recommended as it is injurious to mankind. This is purely my study based on technical charts and for educational purpose only. Please do your analysis before taking any trades given by me. I MUST not be held responsible for any profit or loss out of any trades you take on our advice. All Disclaimers Apply.
RELIANCE INDUSTRIES - LOOKING POSITIVERIL is looking positive with inverted head and shouldter pattern and also breaking the trendline in 15 min chart. Also the RSI is strong.
Stock looks weak below 1980NSE:RELIANCE1!
The stock looks weak below 1980 and can head lower
--Sell below = 1980
--Target = 1940 | 1900 | 1850
--Stop-loss = 2060
--Expected Profit = ( 7 % )
--Expected Holding = 10-15 days only
All ideas shared are for educational purposes.
Reliance Futures/Swing Trade/HourlyReliance Futures.
Near very Important Support Zone.
Which also is a neckline of H&S
Fresh Weakness only on breakdown.
All good till holding Support. Remain Neutral/Bullish
