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RLI trade ideas
Bearish Penanant formation in Reliance 15 m timeframeBearish pennant pattern formed in Reliance 15 min timeframe.
Go short once price breaks down and goes below~2408.65 level which appeared to be a good area of resistance and support
First Target: ~ 2399.00
Second Target: ~2386.00
and so on
This is just for educational purpose. Please do your own research before investing or trading
Happy Days
RELIANCE INDUSTRIES ---INTRADAY SETUP -- 30/08/2023 RELAINCE IND-- INTRADAY SETUP ---15 MIN CHART -- -30/08/2023
1. intraday buy --ENTRY Above 2425 TARGET 2450- 2475 stop loss bellow 2400
2. Support --resistance mention in chart
3. RSI pullback above oversold line 15 MIN CHART
** THIS IDEA IS FOR EDUCATIONAL PURPOSE
trade at own risk !!
HAPPY TRADING <!!
RELIANCE - RSI Divergence?I am trying to learn RSI divergence and from what I have learnt so far; that yesterday's (Aug 28) low and low on Jul 10 were at sample price line (around 2426). But the RSI are entirely different.
I averaged few more stocks yesterday expecting the price reversal because the RSI also is indicating oversold + price close below lower BB :)
Anyone has any idea how to read this? or I am using RSI entirely wrong?
NSE:RELIANCE
Reliance End Game Hello Friends,
Reliance once known for returns have underperformed the Overall market besides the Nifty and Sensex touched their life time high.
If you can check the Chart of Reliance in July month between 19th to 24th Reliance lost almost 400 rs from its high of 2850 Plus to 2450.
Conclusion - The short which are visible on the chart for the particular dates are huge. We don't often see such selling pressure in Reliance.
Trade - Put of 2200 ( 2200 PE )looks very attractive.
Only 1300 rs capital for one lot.
Reason - Nifty is not able to hold above 19000 for long.
The short between 19 to 24 July are indicating something is happening.
Disclaimer - Registered with SEBI .
Reliance 2419.95 crucial factor
Daily Chart - Reliance Daily Chart
Two Parallel lines in white have been drawn. Above the upper white line all the distribution has been done. The left most green candle just above lower white line is the crucial candle where previous swing started at 2419.95. If that is not broken means new higher swing coming up. If broken, gives a huge short opportunity.
Wait and watch.
Just for educational purposes. I am not a SEBI Registered Analyst, please consult your financial advisor before investing.
Bullish Support Alert!
📊 Pattern: Law of Polarity
📌 Symbol/Asset: Reliance
🔍 Description: At Support Level, if sustain above support, good upside expected.
👉 Remember: Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and managing your risks appropriately.
Reliance Ind - Key Support LevelThe stock has a great support level between 2480 and 2455.
If that level breaks..the stock could fall upto 2320.
Would keep a 2% stoploss above the key breakdown level.
If RIL & HDFC Bank fall..its going to make the Nifty break the 50EMA..at this point small & midcaps will start showing greater weakness than they have until now.
High Probability but Poor Risk to Reward RatioThis is my trading journal, not a trade recommendation. Idea presented only for educational purposes for me and others who want to benefit from my experience.
Risk to reward ratio is poor, but probability is very high.
DISCLAIMER:
Trading in the stocks market or futures markets is on e of the riskiest forms of investments available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose. Nothing in this analysis is a recommendation to buy or sell stocks or futures and I shall not be liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of this analysis or reliance on such information. Consult your financial advisor prior to investing is stock market.
This is one person’s experience, your experience may differ. Past performance is not guarantee of future gains.