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RELIANCE

RELIANCE - SYMMETRICAL TRIANGLE - Swing/Short term tradeThe above analysis is based purely on price action & chart patterns. The analysis is done on 60 min TF, hence it may take price to reach the targets in few days to few weeks. Trade setup along with Entry strategies + SL & Targets are given in image itself. Pls note that at this point, chances of breakout as well as breakdown, both are possible. Although chances of up-move are higher as per price movement Traders can take the advantage of above study in intraday trades as well. Traders must do their own study before entering into any trade. They must trade with their own money & risk management. Feel Free to comment for any suggestion or query regarding price action analysis.
NSE:RELIANCE
by AdityaKarn90
NIFTY (Strategy)Hi Everyone, We are in a great period of time with great momentum and bullishness in the market, one of the fastest recoveries in history from the dip. The momentum seems to be really good but there comes the catch. The stretch we are currently seeing is filled by strategies laid out by the Government/RBI, not because of real GDP growth. One of the Important points we have to note is the current NIFTY PE Ratio is standing at 36.73 (To be frank, we have never seen such a high PE ratio in the last 10-20 years). We are at a critical stage, that NIFTY 50 companies need to generate at least double their profits to reduce the PE ratio between 20-25. Will this happen quickly? Anyone can answer this question. My point here is: The current chart shows we are at a critical point. We may go higher/lower depending on the below points, we still have some bullish catalyst for the markets to go higher: New stimulus package approval before Christmas by Biden. We also have a bearish catalyst for the markets to go lower, Biden to introduce Higher corporate tax rates and Higher Long term capital gains tax. But please be aware anyone having long positions, have the below strategies until the market gives a clear view: 1. Trim the positions 2. Keep tight stop loss 3. Buy Nifty Puts with risk management (for Ex: if your portfolio is 1 lac - keep 10% for buying put options this can help you protect your portfolio in downfall) Having good trading strategy is very important, so please keep a close eye on NIFTY Thanks! Disclaimer: This is just my view and not trading advice
NSE:NIFTY
by skiranp
1
Reliance Doji Formation - Ready to Breakout - 2200 Vs 1600Reliance has been correcting continuously after the rumours of health issues of Mukesh Ambani. The undercurrent however was rationalisation and consolidation after a solid upmove. The news flow stopped and whatever was due was bad news regarding Future Retail deal. Perfect time to enforce correction. Anyways reliance has had its share of limelight and next stories could only be regarding increase in tariffs contributing to bottomline. Technicals show the support line which was well respected yesterday and today reliance formed a Doji in the backdrop of CCI approval. Remains to be seen in which direction it takes breakout of this Doji however levels are going to be 1600 on lower side and 2200 on upper side. While 1600 would represent a great long term buy, closing above 2200 would mean fast further upmove to show new all time highs. All in all good buying opportunity with 300 points Stoploss.
NSE:RELIANCE
by Pattern_Study
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ASX:RILLong
by Hardikjethwa