RELIANCE
Support and resistance levels of RILSupport and resistance level of reliance industries limited - if stocks closes below 2120 on daily chats them there is a possibility of 2050 level. 2050 will act as a decent support. On upper side 2200 and then new LTH is possible if it able to close are 2120 on daily chart.
Disclaimer - this is just for educational propose and not a trading or investment advise
Reliance Inside bar 2H FrameHi Traders,
Inside Bar Form 2H frame
Entry Yellow Table Above Or Below Breakout
Sl make candle High or Low
Its Profit Making Strategy
Levels Update On 28/6/2021 After Breakout
Simple & best techniques for Trading called S&D Zone easy to understand for making Profitable Trade. Believe Price Action, has the potential to change your trading lives.
Thanks & regards
Sakthi
Any Query Comment
Reliance : 28th June | LongStock Price had peaked on 15th June at INR 2274.90 and since then have retraced to INR 2104.45 at the close of session on 25th June. The current stock price has retraced upto 61.8% of the fibonacci range ( i.e 61.8% of 285 points range ). It is indicative that stock has a high tendency to reverse its downfall or stay at this level.
For 28th June, i will be happy to see stock in the range INR 2098 to INR 2147. INR 2147 is a strong resistance being at 200 DEMA
Reliance:At Hourly TF , CM closing price of reliance industry seems to be intresting. Perfectly At the junction of breakout on all the patterns. Looking at the volumes seems to be some selling happened before today's event. Intresting to how price moves ....
For downside have market next level and upside only when channel in green gives breakout.
BANK NIFTY PRE MARKET ANALYSISSEEING TOWARDS THE GLOBAL INDICES WE ARE GOING TO OPEN FLAT AND IF BANKNIFTY IS UNABLE TO CROSS THE SUPPORT WHICH IS NOW ACTING AS A RESISTANCE AND THIS MAY FALL TILL TARGETS (T1/T2/T3)
TODAY'S RELIANCE AMG WILL AFFECT THE MARKET SO BE CAREFUL IT MAY FALL MORE OR IT MAY UP MORE SO TRADE CAUTIOUSLY
IF IT CROSSES THE RESISTANCE THEN WAIT FOR PERFECT PRICE ACTION DON'T JUMP DIRECTLY INTO TRADES.
BEST STRIKE PRICE TO BUY FOR OPTIONS ARE-34500 PE,34600 PE.
MONTHLY EXPIRY FOR JUNE
:-) HOPE IT GIVES GREAT TRADES