Short Opportunity in Reliance - Long Term Resistance ZoneSymbol : Reliance
Trading Idea : On daily and weekly TF, It looking like a consolidation & breakout but as per my analysis, Reliance is currently Trading at 2 year resistance zone & this breakout may fail as the stock is already given a huge upmove on weekly TF.
One can go short at current levels of 2640-2670 with SL of 2710.
Target 1 : 2545
Target 2 : 2485
RLI trade ideas
ReliancePrice is moving inside a channel formation and now it is testing the upper trend line of the channel. Trend direction deciding zone is 2916 - 2922.
In daily chart, price has formed an ascending triangle.
Considering these facts, if the price sustains above 2922 and show volume strength, then we can see bullish move.
Buy above 2922 with the stop loss of 2904 for the targets 2942, 2964, 2986 and 2998.
Sell below 2880 with the stop loss of 2900 for the targets 2860, 2838 and 2218.
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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 3000 , 3090 next Target for few days till 2780 not brekOn 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
Reliance Uptrend Movement . Expected Target is 2960/2990Symbol Reliance.
Time frame: 15 min
Analysis: The price is in th parallel channel so we can expect a target of 2960/2990
HOPE our analysis is adding value to your Trading Journey.
NOTE: Published Ideas are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
NOTE: RESPECT The risk. SL should not be more than 2% of the capital.
Reliance ABC patternThe entire pattern for Reliance Industries looks like ABC, especially as we have respected the upper end of a rising channel. This perfect channel was possible because the chart is adjusted for the demerger of Jio Financial Services. If your chart is not adjusted, it may not be the same. What are the implications? Watch the RMI and trend indicators.
FALL EXPECTED IN RELIANCEReliance industries in trading in a channel and taking a short trend near upper channel with SL above the resistance zone has potential of giving good profits.
Sell - 2750 - 2740
SL - 2800
Targets - 2635, 2585
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Happy Trading!
InvestPro India
Reliance buying given at 2700 on 195 points get 3000 next TargetOn 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
Long Biggest Company In India - Reliance Industries Currently Reliance is at All time high close with Bull Flag pattern breakout.
Ride the trend until it closes previous day low or Previous Market Structure of Technical levels Stoploss is Rs.2658 for futures.
Long March futures and Buy 3000 Call option of Feb series - 2024.
RIL - a conditional buyThis Index giant is showing signs of breaking a channel. On daily chart, it has formed a rounding bottom. Whereas on technical indicator, RSI shows bullish trend for a medium term momentum. Any breakout above 2580 could bring further rally in the stock. Buy this stock if it sustains above 2580 on daily closing basis with at target of 2800 and a stop loss of 2445
RELIANCE can make an up side move againReliance can give a nice swing or positional opportunity if it breaks and sustains above 2700
or one can buy again when it dips at 2660-2650
with STOPLOSS at 2630-2630 if bought on dip or 2650 if brought on break
Target at 2790, 2830, 2850++
Note: if any trade or value has gone from the place we decided to enter then thats not our trade wait for it to come back or let it go
I am not sebi registered this is my personal view
Reliance sell given on 22 jan , 2660 Target hit, 2620, 2560 nextOn 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
Reliance good fall today as said yesterday 2660, 2550 next TargtOn 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
Reliance 2720 CE Jan expiry and Reliance PE 2700 jan expiry Result point of view trade setup, as market will be opened on 20 Jan 2024, Result effect will come in Reliance, so one can look for 2720 CE available at 45 and 2700 PE available at 35, so in this case, gap up or gap down will give profit, if no volatility came, then exit from the trade on cost to cost on 20 Jan 24.
Please consult your financial advisor to initiate trade as this is for educational purposes.
Reliance ready for 2800 +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
2700 put option and 2800 call optionResult trade set up, high flactuation in Reliance can be come due to result on 19 Jan 2023, so put option of 2700 at 24 and call option of 2800 at 25 can be bought, if 100 pts gap up or gap down happened, then the value of the options can go 100. If no gap up or gap down came, then minor loss can be booked.
This is for educational purpose, please consult your financial advisor for guidance.
Thanks.
profitable
Certainly! However, it's important to note that writing a profitable trading strategy requires careful consideration, testing, and validation. Pine Script is the scripting language used in TradingView for creating custom indicators and strategies. Here's a simple example of a Moving Average Crossover strategy in Pine Script:
pinescript
Copy code
//@version=5
strategy("Moving Average Crossover", overlay=true)
// Define input parameters
fastLength = input(9, title="Fast MA Length")
slowLength = input(21, title="Slow MA Length")
src = close
// Calculate moving averages
fastMA = sma(src, fastLength)
slowMA = sma(src, slowLength)
// Plot moving averages
plot(fastMA, color=color.blue, title="Fast MA")
plot(slowMA, color=color.red, title="Slow MA")
// Strategy logic
longCondition = crossover(fastMA, slowMA)
shortCondition = crossunder(fastMA, slowMA)
// Execute strategy
strategy.entry("Long", strategy.long, when=longCondition)
strategy.entry("Short", strategy.short, when=shortCondition)
This script defines a simple moving average crossover strategy. When the fast moving average (blue line) crosses above the slow moving average (red line), it triggers a long entry, and when the fast moving average crosses below the slow moving average, it triggers a short entry. This is a basic example, and you should thoroughly backtest and optimize any strategy before considering it for live trading.
Remember, trading involves risk, and no strategy can guarantee profits. Always practice good risk management and consider seeking advice from financial professionals before engaging in live trading.