RELIANCE - Elliott Wave ViewRELIANCE.
Correction cycle towards 1900 level. Below 1850, could extend towards 1650 level. The stock is forming a WXY corrective pattern.
The analysis is based on the Elliott Wave Theory.
Relianceindustries
Reliance IndsReliance inds trading in pattern. Just sharing my thoughts. DONT TRADE BASED ON THESE IDEA.
Reliance - Make or BreakWhile Reliance can go higher in the short run, in the longer run, the structure is extremely week. Watch the 20MMA. The last time Reliance closed below is with MACD in sell... Well the chart shows what happened
RELIANCE LONG TERM VIEWReliance on a weekly chart is moving in a fixed channel for a long time.
2350 is a crucial level for reliance if it breaks we can see a good downfall in this stock. And if it bounces back from this level, the previous high of 2800 level can be expected.
Trade safe. Manage risk. Be profitable.
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Disclaimer:- This is my view. Please analyze the charts yourself and then decide to take any trades.
Reliance Industries 🚀RIL ( Reliance Industries ) is performing Good at his levels to the estimate Target for Swing Trading is 2680 🎯
Note : This is just for Backtesting and Educational Purpose Only.
RELIANCE : near resistance RELIANCE : Down trend in hourly chart since many days. now its near to resistance for trendline & also near flip Resistance. Please watch closely (in 15 min chart ) all the candle formation and enter in trade. IF Breakout & retest of Flip level we can see 2600 on table and Nifty with our next target as per Nifty chart.
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
Reliance Harami type candle on resistance#Reliance in triangle consolidation after Trendline breakdown.
And formed harami looking candle pattern on Resistance today.
Can initiate Short position if it breaks today's & yesterday low around 2550 with SL of 2580
Trgt 2510-2490.
If breaks today's n yesterday high around 2580 then can initiate Long position
With SL below 2550. For trgt 2625, 2675 & 2725 final positional.
Reliance - rectangle breakoutReliance showing bullish RSI range shift on 1HR time frame
Rectangle breakout with target of 58 points
Rectangle target : 2608
Resistance at 20DMA : 2595
Round figure resistance : 2600
Reliance The Name IS EnoughRIL is taking nice support around 200 days EMA and it might be time to compound the stock. If you don't have Reliance it might be a good opportunity to add. If it goes down will definitely provide an opportunity to average on bounce. Further compounding can be done after it crosses and closes above 2578.
Targets: 2662, 2757.
Long term target: 2858.
Eventually it might reach 3000+.
One stock where I would not put a trailing stop loss. but if you want to keep a trailing stop loss you can keep it at closing below 1850.
Enough has been said about the stock on various occasions.
RELIANCE Major Support & Resistance Here I am sharing major support and resistance on NSE:RELIANCE for upcoming days.
Reliance indsReliance inds looking good for tomorrow reliance breaked an trendline in 1 day time frame
retest pending in 1 day frame coming to the 15 min time frame breaked a 15 min trendline
and took support tomorrow price goes up and complete its retest at marked crucial level
and chance to reversal
Thank you NSE:RELIANCE
Breaking down, Can initiate short on cofirmation The Scrip is breaking down with a rounding top, down side possible, Keep this in radar.
Triangle Pattern BreakoutEnergy index is preparing for a triangle pattern breakout, keep energy stocks in radar.
Reliance Stock AnalysisNSE:RELIANCE at its trendline Support and a round figure of 2400.
Bulls are active at this level to protect it from further fall.
if the market turns on the upside reliance can move Up.
If weekly closing happens below 2400 we can be mild bearish
Reliance - Daily Chart & 1hrs chart Reliance - keep eye on daily chart breakout on RSI & daily chart channels Breakout
But own Sup & sl Must for rally
Educational purpose only
Buying Active in Reliance Entry above 100% and Could enter at 50%-61% zone.
Target 161% and 261%.
Stop Belove 38%
RELIANCE falling wedge patternWhat we can see in the chart is a falling wedge pattern. Currently the price is inside the pattern. We are expecting the price to get rejected at the upper boundary of the wedge and come back down to retest the support. After that we are expecting the pump and the break out to the upside.
MACD has a bullish crossover which is positive sign for bulls.
The target and the stop loss are shown in the chart. Enter the trade only when/if the price breaks out with the volume surge.
RELIANCE might open positive in morningReliance might open positive in tomorrow morning as per chart pattern, and rsi is in uptrend in 30 mnt 1hr timeframe....... and a long timeframe trendline is a strong support of it(weekly and daily time frame trendline)....
Would you be okay?Reliance clearly not able to sustain above the highs, and has been consolidating inside the Q2 range till now.
This indicates weakness, and hence expecting it to give a follow through to the downside.
PURE PRICE ACTION SERIES
SHORTED RELIANCE ON INTRA DAY BASIS MADE A PROFIT OF RS 5000/- BY SELLING FUTURES.
also trading in market is risky and even risky when you trade in derivatives like futures and options always follow a strict stop loss in trading.
