RELIANCE
Reliance Weekly trendline supportObservations:
Weekly chart trend line is acting well.
Marked the resistence levels for BO level accumulation.
Need more volume incoming.
Entry on first resistance breakout and closed basis stoploss below the trend line support
Reliance promising patternPossibility to break any side.
trade cautiously
hopefully it won't break down otherwise nifty will be affected
Trade Set up See here I have made major support and resistance lines in a 1 hr Chart for Nifty. As you can see 14347 to 14443 (86 Points ) zone is a painful one. Markets can be very volatile in this range hence for this zone best will be to use an option hedging strategy, do not take a directional view in this range. Also, keep an eye on the support trendlines near closing i.e 14371. Closing below support Trendline line (Retest may occur or not I can't predict if it does and again red candle forms then markets will definitely touch 14222 and then to next support ) will cause some selling. Use these support and resistance and trendline to enter trades. In terms of going long look for trendline breakout in 30 or 15 min candle. Remember as markets fell heavily on Friday therefore general trend in the retail trader is to short the market. You shouldn't be impulsive in shorting, always wait for confirmation don't get trapped on any side, try to read the psychology of 90% of traders, and smartly make your move. See those who missed the rally will always come to buy at major support levels, hence you can use these to do scalp trade on the buy-side too to earn quick money till budget during intraday.
reliance indi am neutral at this moment coz if this breakout is fake then market touch the level 2150-2170. if break this box and stay with and give a bullish momentum then i preferer buy. if not market go back 2056.this is major price action area and market break this last low as technical purpose. then i measure this down is at least 1795 and max 1777-1733 that red box. this is market and thing can be happen. so next is next see you soon. stay with me
Bull Put Spread on Reliance BreakoutBull Put Spread
-1x 28JAN2021 2150PE - ₹ 135.45
+1x 28JAN2021 2050PE - ₹ 64.1
Max. Profit ₹ +17,838
Max. Loss ₹ -7,162
Reliance PreparingReliance Preparing for Breakout after months of correction. RSI also ready for trend line break out. Buy simple!
RELIANCE INDUSTRIES, Daily ChartBreak-out Done
Can Buy with SL 1944
Targets are 2038, 2087, 2152, 2220, And 2300.
Disclaimer
I am not SEBI REGISTERED Analyst
Educational purpose only
Please consult with your financial advisor before trading or investing
Reliance - Huge Breakout after accumulationReliance is expected to give a good upside move from here.
Accumulation and Narrow price range depicts a good move in the stock. As per the momentum, it is looking to explode to the mentioned levels.
If gives break out of this channel then 2080+ and 2180+ target will be open in the long term.
This Is purely on an educational basis, No Buy/Sell call given.
Thank You.
Reliance Industries Look for short term sell after correctionsmall upswing then look for sell. correction is in process of completion, look for breakout of the corrective structure then find your spot to sell. sell might not be that long so watch out for where you wanna exit too.
Thanks & GL
Reliance Bet for 2190 in few days/weeksIF you notice the volume spike I have mentioned in the volume chart, reliance is ready to cross the accumulation zone and reach 2190 so it's a good risk-reward ratio to go long from here.
I have gone along with a hedge of 1900 PE to handle the results risk.
In the 15 Minutes chart, we are seeing a clear reversal pattern of double bottom and accumulation patterns in the cluster of 1900-1920.
Although the target is 2190 I will review it at 2050 and 2150 and adjust the trailing stop loss but looking good.
Reliance may surprise with an Up move anytime soonReliance ( NSE:RELIANCE has been trading in a closed range for many weeks now.
It took multiple support at 200 Moving Average. And formed a base near 1880-1920.
Volume in the cash segment is quite good too.
Now it looks ready to break out of the wedge formation anytime soon and reach the near-term target of 2300+ and then creating an all-time high in weeks to come.
The stop loss of the trade should be 1850 on closing basis.
RELIANCE INTRADAY SET UP FOR 12TH NOVCritical levels marked in the chart.... green tick mark indicates "long above" entries with targets "x" in green...same for red.
RELIANCE - Bottom Formation - Short term swing/intraday tradeThis analysis is purely based on price action and Chart Patterns.
The analysis is on 30min TF hence target can be achieved in intraday trade or in couple of days.
Reliance is forming falling wedge pattern but it is not breaking previous lows & making higher lows. It can be a signal of bottom formation as well.
Trade logic with SL and Target is explained in image itself.
Don't chase the price. Always plan your trade & trade your plan
Keep trailing SL accordingly once entered into the trade.
This analysis is purely for education purpose. Kindly do your own study before entering into any trade .
Also check out my other ideas to understand how price action works and how it can be used to make regular profits without any complex strategies.
Feel Free to comment for any queries regarding the above stock or price action analysis in general.
Piramal- Triangle BreakoutKeep this in your watchlist. Stock has made a big symmetrical triangle over long time. Can show some big moves.
Reliance ChartHence Fourth wave is Correction wave so i am expecting Reliance to come down in ABC correction wave.
RELIANCEReliance is trading in a Symmetrical Triangle Pattern and it can form big Symmetrical Triangle Pattern
