Reliancetrade
Reliance Looking Very Good Ahead of AGM - 1850 Levels Possible1. There was lot of accumulation happened in the zone of 1710-1720
2. After that base shifted towards 1735-1740
3. In last week, Reliance played important role to push Nifty higher. So when nifty will consolidate, Reliance too.
4. On Intel's investment it is trading at 1800 levels.
But I still believe this not good zone to enter. In order to touch 1850, it has to make base on 1760-1780. So I will wait for the 1760-1765 levels. This is very good entry point. We may expect this zone in upcoming 2-3 trading sessions. 1750 levels are good to watch because it may falls to 1735 level if it breaks 1750 in intra day. Then it will be a very very good opportunity to swing trade
I am looking at target of 1840-1850 till Reliance AGM which is on 15th July. This is completely event specific trade.
chart looking good, wait for the clear direction.reliance is already at ATH. on bigger time frame, price consolidating, if you are able to catch breakout, you can make good bucks.
RELIANCE - Gap up or gap down ?Opening above 1600 can take stock to 1650 levels.
Opening below 1570 can take stock to 1540-1530 levels.
Flat opening can make stock trade sideways in between 1600- 1570 levels.
Reliance Price in Ascending Triangleprice in ascending triangle ready to break above
wait for market to open and than we will take trade at retest
if resistance isn't break than it can touch the support again.
RELIANCE - holds good support @1540 levelsReliance has good support near 1540 levels and and there is a probability of shark pattern , whose support levels also aligned with price support@1540
Hence , i am expecting stock would most likely bounce from there and retest its recent highs around 1600 levels.
So its a temporary long trade
Trade type - Risky - only for pro traders
I am bullish on the stock only above 1650, till then stock can trade in between 1620 - 1540-1520 range.
RELIANCE - ALT BAT - new rally only above 1650RELIANCE - ALT BAT - new rally only above 1630
Reliance hourly chart has probability of altbat pattern and currently its trading near its prz zone i.e 1620-1630
High Volume Spinning candle near prz is again a warning that cannot be ignored.
This alt bat pattern is also aligned with reliance previous resistance at 1590-1600 levels.
Short below 1575
Long above 1630
Please do not follow blindly, do your own research.
RELIANCE - 1350-1320 Re-test before we head higher?NSE:RELIANCE
Reliance has been moving down with mostly red candles at daily since it's all time high. Currently, it is at 0.786 region of fib and if it starts to head higher from there, that can be very bullish but such an event is quite less probable. Chances are that it may want to come and retest 1350-1300 region (if 1400 breaks) which coincides with a previous swing low and an important 0.618 fib level.
The previous two trading session saw a small upside but they were not supported by volume (as see in the chart). I would like to see increase in green volume if we are to break to new all time highs for Reliance.
Reliance is a fundamentally strong stock so for long term, we can be bullish.
Daily RSI
Reliance - 54 - Neutral
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Reliance Industries Trading Setupprice holding the Trend line support really well and Try to make above with good partnership coming which is possible .
But from Technical Side stock need some rest and healthy retracement for price to move upward side .
Breaking this support will send Reliance price to new level around 1300 and holding above will send the price to 1550 Price zone.
Waiting for any confirmation and than enter the Trade
RELIANCE - INTRADAY TRADERELIANCE - INTRADAY TRADE
Based on simple trend structure + Candlestick pattern + RSI RANGE SHIFT
Reliance - Key Reversal Candle at previous resistanceReliance Industries formed key reversal candle on its weekly chart confirming previous resistance @1600 levels.
Negative Divergence at 60 levels is clearly visible on the chart.
So coming any move below 1400 levels can take stock to 1200 to 1150 levels.
REliance IndustriesAnyone like to share their views on this chart ??
What do you think reliance gonna do now ??
Is it gonna go up
Or go down or trade sideways.
Write down your observation in the comment section below.
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.
what a up move, in this kind of market 👏are are at very important level.
71.76% is up from the low. cow companies moving like this is incredible.
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.
RELIANCE SHORT FOR TARGET OF Rs 995 - 975Reliance in a strong downtrend. Presents a good short opportunity for Target of Rs 995-955 Range.
Reliance -Making Bullish Breakout pattern PENNANTHello everyone,
I am sharing my Idea for Reliance Industries. Reliance is about to make " Pennant" Bullish breakout pattern in a day time frame. we Just need confirmation.
What is Pennant Pattern?
Pennant is a short-term continuation pattern. It is created when there is significant price movement in the stock, i.e. strong volume rally on the back of positive fundamental development followed by several days of narrowing price consolidation in the stock on light volumes. Finally a fresh breakout is observed in the direction of the prevailing trend with a surge in volumes once again. The duration of the pattern is usually a few weeks. The pennant is in effect a very small triangle.
The technical price target for a pennant is arrived at by computing the height of the flag pole and adding it to the eventual breakout point after consolidation.
