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RELIANCE update 1 ON 26.09.2020Hi Friends, I got the request from one of my follower to give the update on Reliance, So here it is. RELIANCE gave Huge run, So far it is good. But now it is the decision time. you might have these questions in your mind. Shall I enter at this price? Shall I book profit? Shall I accumulate the stock? Resistance area for Reliance is 2244 - 2266 (it is 2-3% away from cmp), once it brake the resistance it will give huge brakeout. So for any fresh buying waiting to cross the resistance area is advisable. For short sellers (very few, but any) keep stoploss of 2267. (REMEMBER PROFESSIONALS ENTER THE TRADE WITH STOPLOSS IN MIND, but armatures like me :P , enter the trade with profit in mind. ) For profit booking it is your choice........ Your Humble trader, KIRAN ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ZOOM OUT FOR BIGGER PICTURE -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
NSE:RELIANCE
by KiranSunku2016
1
RELIANCE INDUSTRIEScurrently reliance is trading at rs 2315...and my analysis says that it will fall down because according to RSI it was in overbought condition ..and that's why it is falling today ...and also according to SHOCKASTIC technical analysis it is also saying that it will go down because blue crosses the orange line or blue line is below orange line and i also analysed through candle sticks it is also telling the same ...as you can see there is a doji candle sticks ..it maens that the market will get reversed
NSE:RELIANCE
by nehagangwal27
Reliance Poll and Flag Breakout for swing tradingWhy this trade? Technical Data: 1. Reliance was holding 2040-2050 very strongly despite of large move in the last few months. Also in the market of uncertainty. 2. We saw one way rally from 1611 to the 2198.90 when it breaks ATH of 21st January. 3. The most interesting thing is consolidation on higher levels for 30 trading sessions ( over 42 days ) and it never close below 2000 in this period. This is clearly showing strength. Fundamental/News : 1. Recent acquisition of future group & silver lake's as first investor in the Reliance retail shows mostly all strategic investment announcement most likely to done in upcoming days. 2. Valuation of R-Retail is really very good & could be the larger than RJIO. Thought Process: Many was thinking to buy below 2000 or at 1800 levels after big run. Similarly one could think to buy at 2200 level when it will move to 2600. No one can predict up/down move of stock. Basic thing when investor like Silverlake investing at current valuation then it may have probability to get multi fold returns in upcoming years. Usually private equity funds interested larger returns. They avoid to play for less marginal returns. So in short, current valuation is not really overrated as everyone is talking. Targets/Stoploss: Time frame : Next 18-22 trading sessions ( Analyzing ) Entry: Above 2170 on closing basis Target: 2595 ( Decide using poll-flag pattern. ) Stoploss: 2040-2050 ( Current swing low ) RR: 3.15
NSE:RELIANCELong
by md1908