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Relianceindustries

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.
NSE:RELIANCEShort
by stonksksk
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.
NSE:RELIANCELong
by Kru-KB
Reliance may surprise with an Up move anytime soonReliance ( NSE:RELIANCE has been trading in a closed range for many weeks now. It took multiple support at 200 Moving Average. And formed a base near 1880-1920. Volume in the cash segment is quite good too. Now it looks ready to break out of the wedge formation anytime soon and reach the near-term target of 2300+ and then creating an all-time high in weeks to come. The stop loss of the trade should be 1850 on closing basis.
NSE:RELIANCELong
by traders_pit