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RELIANCE

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.
NSE:RELIANCELong
by philipakash
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.
NSE:RELIANCELong
by traders_pit
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.
NSE:RELIANCELong
by AdityaKarn90
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