Reliance there is strong support 2065-2071 range and breakoo2171Reliance there is strong support 2065-2071 range and breakout 2171-2175
RELIANCE
RELIANCE | Continuation
Reliance bounced back on the straong trendline support. I'm expecting it to hold.
MACD Supports the statement.
Pennant forming on the chart. While indicates continuation.
Note that Reliance Industries has a very positive market sentiment despite the covid hit economy. And is currently in price discovery!
Reliance is getting support from its Demand zone 1hrReliance is getting support from its Demand zone 1hr second last bullish hammer is clear indication
Reliance Long Swing Trading - Pennant FormingReliance Long Swing Trading - Pennant Forming
In Reliance swing trading opportunity for Long side.
Pennant pattern Forming on 4 HR chart and a breakout can be happened.
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RELIANCE LONG TERM LONG VIEW ELLIOT WAVESReliance is in Wave 3 wherein long term Targets is around 2500
Volume is diminishing Looks difficult to cross the Resistance Volume is diminishing Looks difficult to cross the Resistance of 2200 , and if break of course it will go and make a new swing high as now its news driven stocks.
reliance is expected to take a correction in a day or two watchreliance is expected to take a correction in a day or two watch
entry point between 2199 to 2165 add more short below 2135 stop loss will be 2205
target as on charts
time scale 7 to 9 days
on the upper side extended retracement is 2435
reliance has sign of medium reversal time scale july expirysale reliance entry levels 2142 to 2138
target mentioned in chart
stop loss 2168
SUNFLAG seems bullishStop loss is wide because there could be a healthy retracement.
Please do your own research before trading or investing.
GODREJCP seems bearishAnticipatory trade, a relatively low probability trade.
Please do your own research before trading or investing.
SUNTV seems bullishAnticipatory trade, probability is less.
Please do your research before trading or investing.
Reliance near supportReliance might bounce back from 1960 levels to take the market up in my opinion. Only for education purpose, please don't trade on this .
1. Fib retracement 50% is at 1990.
2. It is trading in small channel since last few days. Any break above it will give good volumes on upside.
3. Long term support line is near 1950 to 1970 zone.
Given all these factors, unless global markets fall it might start seeing some buying interest from 1960 to 90 range.
RELIANCE SL 5 minRelaince strong bullish,
Trade was placed after observing a bounce from daily demand zone, so made an entry in 5 min zone
but 15 min trend ha not yet made higher high, so it probably some more room to go down and trade got SL
