Reliance target 2753.25lower limit- 2181.25
upper limit- 2753.25
cmp- 2455.20
gain- 12.1% from cmp
Rangebound trading strategy in reliance, target will be achieved by 18/08/23
Reliance-trading
RELIANCE : What all possibilities from here?www.tradingview.com
RELIANCE: As per technical evaluation, it is near its 52W high price. However, if we could see historically, it was in a range of 2000 - 2600 for a long time now. We can see, it has made triple top as well as rising wedge, but do not forget, there is a cup being formed inside and we should not forget. A good time to enter in investment will be above the boundary of 2650 level. The target will be 2884 and 3294. If it reverts from here, it can come to 2300 range first and then 2100 range.
RELIANCE--Gap down ??Observations:
-------->>the stock is trending upwards.
-------->> We have observed that the price is broken trendline, and retested the supply zone.
--------->> Previously a strong fall is observed from the zone 2490. if price falls below 2450 levels sell on retracement for the target2420 levels.
Keep an eye on these levels.
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RELIANCE--Head and Shoulders pattern(Right-Shoulder) Forms??Observations:
-------->>the stock is trending upwards.
-------->> We have observed a left shoulder formed at 2300 level. Now if price falls back to 2300 level and if the same is acts a support we will
observe a Head and Shoulders pattern in Reliance.
--------->> Previously a strong fall is observed from the zone 2425-2455.If the same zone is acts as resistance we will observe a fall in reliance up to
2300 Zone.
------>> we have a demand zone @2360-2380 level which can act as a pullback to the same zone(2425-2455). and price may fall back to 2300 levels
very quickly from this zone.
Keep an eye on these levels.
Reliance Industries: Go long above 2494 with long term viewThis is a long term analysis on Reliance Industries on 4 hours TF
Buy only above breakout pivot range <2447 -2497>
For swing position target will be 2689, buy above 2497
For long term holding , buy on major breakout above 2689 , targets projected using Fibonacci levels are 3003/3320/3515
Long term investors should exit if Stoploss pivot range breaks <2246-2124>
RELIANCE Selling RELIANCE Selling
RELIANCE Selling RELIANCE Selling RELIANCE Selling RELIANCE Selling
Reliance Buy Setup for 2400+ TargetTrendline Breakout on Daily TF.
Long Initiation Levels:- 2160-2130
Stop Loss:- 2075 (CLB)
Targets:-2235-2300-2400+
Swing Trade in Cash only.
Reliance view for Monday 27 DEC 2020Depends on Nifty.
trade careful market is volatile.
Just My view on market, Do your own Research and trade.
