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Reliancelong

Elliott Wave Outlook for RELIANCETechnical Analysis of Reliance Industries (RELIANCE) based on Elliott Waves This analysis is based on Elliott Wave Theory and is for educational purposes only. It does not constitute financial advice. Investing involves risk, and past performance is not indicative of future results. Always consult with a financial advisor before making any investment decisions. Elliott Wave Analysis The provided chart of Reliance Industries (RELIANCE) outlines a potential Elliott Wave pattern within a 1-hour timeframe. Elliott Wave Theory suggests that financial markets move in predictable and repeatedly patterns based on investor psychology. Key Observations: 1. Impulse Wave: The primary uptrend appears to be an impulse wave, a five-wave structure. Wave 1: The initial uptrend from the low point. Wave 2: A minor correction or pullback. Wave 3: A strong extension of the uptrend. Wave 4: A smaller correction. Wave 5: The final wave of the impulse, often ending with a climactic price movement. 2. Corrective Wave: The current downward movement was a zigzag corrective pattern. Wave A: The initial decline. Wave B: A minor retracement. Wave C: The expected continuation of the downward trend. Potential Scenario: If the current corrective pattern zigzag finishes here or near, then further wave ((3)) is to start post completion of wave (C) of ((2)), and it would not go sudden upside, because any impulse wave unfolds in five subdivisions, so wave (1) of wave ((3)) can start any time post completion of wave (C) of wave ((2)). Note: This analysis is based on a specific interpretation of the Elliott Wave pattern. Other analysts might have different interpretations. It's crucial to use multiple tools and indicators to confirm your analysis. Additional Considerations: Fundamental Analysis: Consider factors like company earnings, industry trends, and economic indicators to support your technical analysis. Risk Management: Always use stop-loss orders to limit your potential losses. Diversification: Don't put all your eggs in one basket. Diversify your investments across different assets. Remember: Elliott Wave analysis is a complex tool that requires practice and experience. It's essential to approach it with caution and always consider the potential risks involved in trading. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:RELIANCELong
by RK_Chaarts
RELIANCE (Reliance Industries Limited) - Swing TradeClosing Price: ₹2,972.1 Change %: 1.74% Volume: 7,304,130 High: ₹2,984.45 Reliance Industries, a market heavyweight, saw a 1.74% increase, closing close to its intraday high. The considerable volume signifies robust investor confidence. Given Reliance's diversified business portfolio and market influence, the stock is likely to maintain its upward momentum, making it an attractive swing trade option. Kindly conduct thorough analysis and consider market conditions before making any trading decisions.
NSE:RELIANCELong
by ruelfernandes
Reliance--S/R levelsI am sharing the important levels of Support and Resistance. These levels plays a crucial role in trading decisions, as they act as reliable markers of price movements. ------>>Support levels are price points where an asset tends to find buying interest, preventing it from falling further. ---->Resistance levels, on the other hand, are points where selling pressure typically prevents the asset from rising higher. Take a look at these levels and trade accordingly. Recognizing and respecting these support and resistance levels can help traders make informed decisions and manage risk effectively. They serve as key reference points for technical analysis and are vital tools in successful trading strategies. Trade safe...Thank you guys for your support
NSE:RELIANCE
by IIT-Trader
1
Reliance--Resistance @2400 ??I am sharing the important levels of Support and Resistance. These levels play a crucial role in trading decisions, as they act as reliable markers of price movements. ------>>Support levels are price points where an asset tends to find buying interest, preventing it from falling further. ---->Resistance levels, on the other hand, are points where selling pressure typically prevents the asset from rising higher. Take a look at these levels and trade accordingly. Recognizing and respecting these support and resistance levels can help traders make informed decisions and manage risk effectively. They serve as key reference points for technical analysis and are vital tools in successful trading strategies. Trade safe...Thank you guys for your support
NSE:RELIANCE
by IIT-Trader
1
RELIANCE--Near Its Demand Zone?? look for buy when price test this demand Zone. I am sharing the important levels of Support and Resistance. These levels play a crucial role in trading decisions, as they act as reliable markers of price movements. ------>>Support levels are price points where an asset tends to find buying interest, preventing it from falling further. ---->Resistance levels, on the other hand, are points where selling pressure typically prevents the asset from rising higher. Take a look at these levels and trade accordingly. Recognizing and respecting these support and resistance levels can help traders make informed decisions and manage risk effectively. They serve as key reference points for technical analysis and are vital tools in successful trading strategies. Trade safe...Thank you guys for your support. The information provided on this platform/website/blog is for informational purposes only and should not be considered as financial or investment advice. It is not intended to be a substitute for professional financial advice or consultation. The content presented here is based on personal opinions, analysis, and research, and it may not always reflect the most current market conditions or regulations. Investing in stocks, bonds, commodities, or any financial assets carries inherent risks, and individuals should conduct their own due diligence and consult with a qualified financial advisor before making investment decisions. Past performance is not indicative of future results. The value of investments can go up or down, and there are no guarantees of profit or protection against loss in the stock market. We do not endorse, recommend, or promote any specific stocks, securities, or investment strategies. Readers and users of this information are solely responsible for their investment decisions and should consider their own financial situation, risk tolerance, and investment goals. Trading and investing in the stock market can involve substantial risk, and it is possible to lose more than your initial investment. We make no warranties or representations about the accuracy, completeness, or reliability of the information presented. We disclaim any liability for any loss or damage arising from the use of this information or reliance on it. Please be aware that regulations and tax laws related to investments may vary by jurisdiction, and it is essential to understand and comply with the specific rules and regulations applicable in your location. By accessing and using this platform/website/blog, you agree to this disclaimer and acknowledge that you have read and understood the information provided herein. It is your responsibility to review and accept the terms of use and privacy policy of this platform/website/blog. This disclaimer may be updated or modified without notice, and it is your responsibility to review it periodically for any changes.
NSE:RELIANCE
by IIT-Trader
7
RELIANCE BULLISH BREAKOUT | 10% UPSIDE POTENTIAL | SWING TRADEThe price has recently broken and closed above the resistance level of 2480. Reliance was trading in a downtrend, but this breakout marks the FIrst HIGHER HIGH, the beginning of a new uptrend. NIFTY is also trading above its resistance level, which gives more confidence that Reliance may go up in coming days, as Reliance has heavy weightage in NIFTY INDEX. Long entries can be opened as long as price is trading above 2840. Stop loss 1. For aggressive traders- daily close below 2480 2. For conservative traders- below 2410 Targets 1. 2600 2. 2750 Let me know in the comments section if you want me to analyse any other financial instrument. WARNING:- ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE TAKING ANY TRADE.
NSE:RELIANCELong
by rohitkukreja
2