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Reliance Industries Ltd. (RIL) Technical Analysis OverviewAs of September 26, 2024 , the daily chart of Reliance Industries (RIL) is presenting a cup and handle pattern , a bullish continuation structure suggesting potential upward movement in the stock price. Key Insights: Cup and Handle Formation: The stock has completed the cup portion and is forming the handle, indicating a likely breakout. A breakout from the handle typically signals a bullish move. Breakout Levels: The price is currently trading near ₹2,995 , nearing an important breakout level of ₹3,020. A breakout above ₹3,074 could trigger further upward momentum. Targets: Target 1 : The first potential target stands at ₹3,074 with a price move projection of 120 points (4.04%). Target 2 : If momentum continues, a second target is projected at ₹3,205, with a price move of 233 points (7.86%). Volume Profile Analysis: The volume bars show significant interest between ₹2,920 to ₹3,020, indicating strong accumulation in this range. Above ₹3,074, volume support could drive the price higher, especially if the breakout is accompanied by increased buying volume. Moving Averages: The stock is trading above the 50-day and 100-day moving averages, which are providing good support and indicating bullish momentum in the medium term. MACD: The MACD line is about to cross above the signal line, signaling a potential buy opportunity with positive momentum. A strong bullish divergence between price and MACD suggests that momentum is picking up for an upward move. Conclusion: The chart of Reliance Industries is setting up for a possible bullish breakout, supported by technical indicators such as the cup and handle pattern, volume accumulation, and MACD crossover. Traders should watch for a sustained breakout above ₹3,074 to confirm the upward move, with targets of ₹3,205 and potentially higher in the medium term.
NSE:RELIANCELong
by AngshumanSaikia
BTC/USD – Cup and Handle Formation with Major Breakout PotentialBitcoin is showing a classic Cup and Handle formation on the daily chart, a bullish continuation pattern. After the completion of the cup, Bitcoin has formed a downward sloping handle, which suggests the market is consolidating before a potential breakout. Using technical analysis, the projected target after the breakout is around $112,000 , based on the height of the cup added to the breakout point. The breakout from the handle is expected to push BTC beyond the $70,000 range, aiming for the next significant resistance levels. As we wait for confirmation, a close above the handle's trendline would signal the start of a new bullish phase for Bitcoin. This setup follows the historical price pattern and could be a long-term opportunity for traders and investors watching BTC/USD.
Long
by yaronsb
SILVER | THE BIGGEST CUP & HANDLE OF ALL TIME!Apple’s Cup and Handle pattern in the early 2000s is often cited as one of the most significant. After a prolonged downtrend, Apple formed a large cup with a handle from 2000 to 2005, which, after breaking out, has continued to appreciate to this very day. However, Apple's pattern is nothing compared to the current Cup & Handle pattern that exists in silver, whether in size or price. I truly believe that silver is currently the most undervalued asset and will not only attain higher prices than most can imagine but will also rapidly begin to appreciate against gold, which currently has a ratio of 83.75 to 1. This ratio is irrational and unsustainable, as gold and silver are typically mined at a ratio of around 10 to 1. Even current U.S. Treasury Mint coins—Silver Eagles and Gold Eagles—have a current exchange rate of 50 to 1 at face value. Historically, under the gold standard and the Coinage Act of 1834, the ratio was set at 16 to 1. Although this will not happen overnight and could take a decade or more to come to fruition, the unnatural and irrationally low price of silver is coming to an end. The overinflated gold-to-silver ratio will continue to fall as price manipulation ends and true price discovery begins.
Editors' picks
TVC:SILVERLong
by MetaShackle
31
🔥 Bitcoin's HUGE Cup & Handle Pattern Breaking Out!In this analysis I want to take a look at a long-term pattern that BTC has been following over the last few years. In my eyes, BTC's price action closely resembles a cup&handle pattern, which is a bullish break out pattern. Assuming that the handle's low is in, we can place our stop right below it. Target at 150k. Be aware that the pattern has not yet been completed; wait for a new all-time high before entering a position. Share your thoughts!
Long
by FieryTrading
12
🔥 Bitcoin's Biggest Cup & Handle Ever: Fibonacci Golden Pocket!In this analysis I want to discuss the possibility of Bitcoin forming massive cup and handle pattern, spanning over nearly 3 years. With the halving coming up, Bitcoin's short-term price outlook has turned out sour. With this signal I want to prepare ourselves for the possibility of Bitcoin giving away all of 2024's gains and retesting the 40k-35k area. My long-term price outlook is very bullish. It's a matter of time before BTC blasts through 100k. By combining the cup and handle pattern with Fibonacci's golden pocket (0.65 to 0.618 retracement, purple area for sumplicity), I think we're combining two very strong narratives. 1) Bitcoin's bullish long-term outlook. 2) Bitcoin's short-term bearish outlook, fueled by the halving's potential sell-the-news event. If BTC will somehow hit the 40k-35k area over the next few months, I think it will be an amazing time to step into the market for a move that takes us >100k. Share your thoughts 🙏
INDEX:BTCUSDLong
by FieryTrading
15
Why +208% on TRX is an underestimation ?#TRX/USDT Analysis Description --------------------------------------------------------------- + TRX has been moving upwards slowly while forming the cup pattern. + This slow move of the TRX has given it enough time for the accumulation + Once the price breaks this resistance line i'm expecting back to back God Candles. + This is a good opportunity to enter a LONG position with TRX. --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 0.13866 Stop Loss: Below 0.09780 ------------------------------ Target 1: 0.17930 Target 2: 0.22480 Target 3: 0.30028 Target 4: 0.43250 ------------------------------ Timeframe: 1W Capital: 1-2% of trading capital Leverage: 5-10x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Feel free to share your thoughts and insights. Don't forget to like and follow us for more trading ideas and discussions. Best Regards, VectorAlgo
Long
by VectorAlgo
6
SOL/USDT - Jumping from the Bowl - SOL had a nice cup patter and showing overall bullish sentiment. - If SOL manages to break its Previous Resistance level then its an easy run for SOL to reach new highs - Currently price is around the support zone and this consolidation is expected to continue for couple of days - Once this consolidation is over we can expect the price to bounce up, if the price breaks the support zone then we are looking at bearish trend for SOL. - lets hope SOL breaks its resistance level and reaches new Highs. Regards VectorAlgo
Long
by VectorAlgo
7
🔥 Bitcoin Looking Very Bullish: Cup & Handle Bitcoin has been performing extremely well over the last two weeks. In previous analyses I wrote that I expected the ETF to be a longer-term top. We dropped over 20%, but I expected we would drop to the 35k-30k area. Yet here we are, retesting the pre-ETF launch resistance merely a month later. As of now, it's more likely than not that BTC will make new highs in the near future. Price action is strong, and so is the stock market. However, there's a minor risk in the very near future, which is the very overbought RSI. With a 4H RSI at 83 points, it makes it risky to step into a short-term long position at the moment. I'm expecting the price to correct a couple of percent to let the RSI cool down a bit. This would be a great entry for a longer-term swing position, since there's a high probability that BTC will break through 50k with force on the next leg up, creating a nice cup & handle pattern.
INDEX:BTCUSDLong
by FieryTrading
20