RELIANCE
RELIANCE to break support, steep fall in the coming days NSE:RELIANCE is about to see major fall in the coming days with price likely to fall as low as 1810 . The Moving Average 50 has just crossed over the Moving Average 20. Past performance shows this results in price falling to around 2-3%. Moreover the Moving Average 200 is closing gap with MA50 and MA20 and if crosses above them, the stock can see an even greater fall going below 1800. Furthermore past few days show huge bearish body candles showing a downtrend. Only positive news (Global or Company related) can take the price up.
Reliance may be playing with peoples sentimentsReliance needs to close above the blue line (this can come any day) for next flow. For now its just playing with peoples sentiments. Accumulate at any lower level between 1950 to 2000
1900 LIMIT ORDER PLACED Reliance Industries Daily and Weekly time frames looking good for long term in terms of Price Action
Reliance Made High Of 1952 As Took Support From1830As Mentioned last chart Reliance took Support from 1830 & Made High Of 1952.if cross 1960-1965 the will be give more good move in upside
Reliance EW Wave countsWave 4 Correction is place on larger degree
WAVE 4 is showinng WXY correction with X Wave faked out around 2100 and then Y leg started.
We will get the confirmation of wave 5 impuse only when it breaks 2100 and closes above it. At that time the target is 2400 and 2550-2600 for Wave 5 Impulse leg.
On the down side, if Y leg is extended a bit, it may spend some time here in the timewise correction.
I started to think now that we may not see much price wise correction now.
We can take the delivery now and keeps on adding till 1700-1650 range for F&O, we can buy when 2100 is broke cleanly and it closes above that.
One Can go short on relianceMota Vro ko pelne ka time aarela hai.
JIsne Padhai kari Usko pata hai mai kin levels pe Short dera hu
Obviously Targets are on a positional basis
RELIANCE, Daily ChartRELIANCE , Daily Chart.
TWO Support Trendline Break-Down.
With Good Volume.
Next Support Levels are 1785 & 1605
Resistance zone is 1915 to 1970.
Disclaimer
I am not SEBI REGISTERED Analyst
My Studies are Educational purpose only
Consult with your financial advisor before trading or investing
Reliance Weekly trendline supportObservations:
Weekly chart trend line is acting well.
Marked the resistence levels for BO level accumulation.
Need more volume incoming.
Entry on first resistance breakout and closed basis stoploss below the trend line support
Reliance promising patternPossibility to break any side.
trade cautiously
hopefully it won't break down otherwise nifty will be affected
Trade Set up See here I have made major support and resistance lines in a 1 hr Chart for Nifty. As you can see 14347 to 14443 (86 Points ) zone is a painful one. Markets can be very volatile in this range hence for this zone best will be to use an option hedging strategy, do not take a directional view in this range. Also, keep an eye on the support trendlines near closing i.e 14371. Closing below support Trendline line (Retest may occur or not I can't predict if it does and again red candle forms then markets will definitely touch 14222 and then to next support ) will cause some selling. Use these support and resistance and trendline to enter trades. In terms of going long look for trendline breakout in 30 or 15 min candle. Remember as markets fell heavily on Friday therefore general trend in the retail trader is to short the market. You shouldn't be impulsive in shorting, always wait for confirmation don't get trapped on any side, try to read the psychology of 90% of traders, and smartly make your move. See those who missed the rally will always come to buy at major support levels, hence you can use these to do scalp trade on the buy-side too to earn quick money till budget during intraday.
reliance indi am neutral at this moment coz if this breakout is fake then market touch the level 2150-2170. if break this box and stay with and give a bullish momentum then i preferer buy. if not market go back 2056.this is major price action area and market break this last low as technical purpose. then i measure this down is at least 1795 and max 1777-1733 that red box. this is market and thing can be happen. so next is next see you soon. stay with me
Bull Put Spread on Reliance BreakoutBull Put Spread
-1x 28JAN2021 2150PE - ₹ 135.45
+1x 28JAN2021 2050PE - ₹ 64.1
Max. Profit ₹ +17,838
Max. Loss ₹ -7,162
Reliance PreparingReliance Preparing for Breakout after months of correction. RSI also ready for trend line break out. Buy simple!
RELIANCE INDUSTRIES, Daily ChartBreak-out Done
Can Buy with SL 1944
Targets are 2038, 2087, 2152, 2220, And 2300.
Disclaimer
I am not SEBI REGISTERED Analyst
Educational purpose only
Please consult with your financial advisor before trading or investing
Reliance - Huge Breakout after accumulationReliance is expected to give a good upside move from here.
Accumulation and Narrow price range depicts a good move in the stock. As per the momentum, it is looking to explode to the mentioned levels.
If gives break out of this channel then 2080+ and 2180+ target will be open in the long term.
This Is purely on an educational basis, No Buy/Sell call given.
Thank You.
