Reliance - Unable to Come out of Doji RangeReliance has again crossed 9DEMA and closed just below it. A short term play could be:
Long on closing above 1985 (21DEMA) with Stoploss at 1935 (Support Line).
Target 2047 (Fibo Retracement Levels)
Reliancelong
Reliance Doji Formation - Ready to Breakout - 2200 Vs 1600Reliance has been correcting continuously after the rumours of health issues of Mukesh Ambani. The undercurrent however was rationalisation and consolidation after a solid upmove.
The news flow stopped and whatever was due was bad news regarding Future Retail deal. Perfect time to enforce correction. Anyways reliance has had its share of limelight and next stories could only be regarding increase in tariffs contributing to bottomline.
Technicals show the support line which was well respected yesterday and today reliance formed a Doji in the backdrop of CCI approval.
Remains to be seen in which direction it takes breakout of this Doji however levels are going to be 1600 on lower side and 2200 on upper side.
While 1600 would represent a great long term buy, closing above 2200 would mean fast further upmove to show new all time highs.
All in all good buying opportunity with 300 points Stoploss.
Reliance Buy I will buy Reliance at current price or 1845 and hold it for 2002 with stop loss of 1800
R-0206 Cash Buy RELIANCE @2110.00-2111.10 SL 2091 TGT 2160Intraday Cash Buy RELIANCE @2110.00-2111.10 SL 2091 TGT 2160
1. Above VWAP
2. TK cross over
3. Pivot break out 2092 next resistance is 2184
4. ichomoku cloud break out
5. MACD cross over
Reliance Industries | Buy Reliance Industries hit lifetime high of ₹2,198.8 in July and since then, it has been moving in a sideways trend. Whatsoever, the stock is still bullish as it continues to trade above ₹2,000. It will most probably rally sooner or later.
Note: The Supreme Court is likely to says its verdict on AGR issue on September 2 and this can impact the stock price. Watch closely.
Reliance - Ready for another up leg - Wave 5NSE:RELIANCE bounced from the lower support trend line of bullish channel. It also completed corrective abc wave. Now it may go ahead for a wave 5.
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 INDUSTRY - bounce back from support - Next level#Reliance is moving under Bullish channel and Very Bullish on Daily/Weekly/Monthly chart. it was falling since two day and after yesterday announcement about subscription amount Rs 43,574 crore from Jaadhu Holdings in Jio platform , stocl took support over trendline and moved UP and touched previous day High and closed below.
Showing Bullish in all Technical Parameter:
CCI in overbought zone
RSI is treading UP
Stoch is treading down from overbought zone
Aggressive New Long position
Stock Outperforming from Benchmark and sectrol index on 1 week and 3 month both
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Support : 1732 (A good level for buying)
Breakdown : 1800
CMP : 1826.75
Breakout : 1840
Short Target : 1874 and 1900
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Positive & Negative Point:
1) Very Bullish in Daily/weekly/Monthly chart.
2) Treading in overbought zone
3) Debt free in two month.
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(Disclaimer: This is only for educational purpose.)
RELIANCE - BREAKOUT Hello Everyone ! Please like idea and share your valuable feedback .
Target for 1850
Can see clean breakout after 1770 level
support -1700 level
good buying level
RELIANCE - INTRADAY TRADERELIANCE - INTRADAY TRADE
Based on simple trend structure + Candlestick pattern + RSI RANGE SHIFT
LONG ON RELIANCE INDS (NSE)This analysis is only for educational purposes, Invest at your own risk!
A strong uptrend can be seen in Reliance Industries , I personally think that the stock will show an increase in Price and Volume .
The ON BALANCE VOLUME and MOVING AVERAGE Indicators Suggest an uptrend too.
Therefore going long on 1459.40 INR (ENTRY POINT ) and targeting for some where between 1510-1550 (EXIT POINT ) could prove to be a positive trade.
Cheers!
P.S. This is my first publish ever
Reliance - Near all times highReliance is near all times high, recent rally gets quite extended.
1600 would serve as good resistance in the short term.
Stock can be accumulated if we see any dip, support for stocks lies at 1445 - 1455.
Days of Reliance are OVER. Will enter Short Position at Blue BoxImportant Monthly Support Broken. Looking Beautiful to Short
I will enter Short at Blue box as shown in chart.
Entry and Stop Loss as shown in chart.
