RELIANCE
#Reliance SwingTradeThe views expressed here are for our record purposes only. Please consult your personal financial advisor before investing. We are in no way responsible for your profits/losses what so ever.
NIFTY (Strategy)Hi Everyone,
We are in a great period of time with great momentum and bullishness in the market, one of the fastest recoveries in history from the dip. The momentum seems to be really good but there comes the catch.
The stretch we are currently seeing is filled by strategies laid out by the Government/RBI, not because of real GDP growth.
One of the Important points we have to note is the current NIFTY PE Ratio is standing at 36.73 (To be frank, we have never seen such a high PE ratio in the last 10-20 years). We are at a critical stage, that NIFTY 50 companies need to generate at least double their profits to reduce the PE ratio between 20-25. Will this happen quickly? Anyone can answer this question.
My point here is: The current chart shows we are at a critical point. We may go higher/lower depending on the below points,
we still have some bullish catalyst for the markets to go higher: New stimulus package approval before Christmas by Biden.
We also have a bearish catalyst for the markets to go lower, Biden to introduce Higher corporate tax rates and Higher Long term capital gains tax.
But please be aware anyone having long positions, have the below strategies until the market gives a clear view:
1. Trim the positions
2. Keep tight stop loss
3. Buy Nifty Puts with risk management (for Ex: if your portfolio is 1 lac - keep 10% for buying put options this can help you protect your portfolio in downfall)
Having good trading strategy is very important, so please keep a close eye on NIFTY
Thanks!
Disclaimer: This is just my view and not trading advice
Reliance side ways movement expected....This is a weekly chart of reliance seeing a range bound move through weeks...
SUpp resis and trendlien plotted..........
Enjoy......
#Reliance Box breakout Trade || Swing Trade || Shot TermThe views expressed here are for our record purposes only. Please consult your personal financial advisor before investing. We are in no way responsible for your profits/losses what so ever.
Reliance - Still no upward movement confirmationReliance after forming three Doji in last five trading sessions of November remains locked inside the marabozu candles levels.
RSI about to breakdown below 40
No longs to be initiated before closing above 1985
Lower levels are open as soon as the support line is broken on closing basis.
Nifty Bullish nature is a Curse for Bears Expiry Day RangeThe fact that nifty has been consistently outperforming other indices is itself enough for it to prove the lions den for the bears.
Marked the EXPIRY DAY range with three possibilities based on the kind of open.
buy reliance ind above 1966.25 target is 1980 or moreplease buy reliance above 1966.25 tgt is 1980 or more sl is 10 points
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)
Reliance - Downward Journey StartsFinally Reliance cleared it's direction after three Dojis towards down side by breaking all three Doji lows of 1920 in intrady and RSI is now below 40 again.
It's all set to test recent low of 1835 on Tuesday itself and then next two are fibo Retracement levels of:
61.8% - 1795
50% - 1680
Excellent buying opportunity below 1680 once RSI starts the Support sign.
Reliance Formed Third Doji - Range 1980-1920#Reliance formed a third Doji in last four days of Trade. There is strong clash between bulls and bears within the range of 1980 to 1920.
With expiry keeping things unclear, the #December series can see sharp moves in either direction once this range is broken on closing basis either side.
Ultimate targets remain the same - 1600 on lower side and 2200 on upper side with further upmove on closing above 2200
Reliance ShortReliance Short for 100 point. this one can also use intraday. if do intraday choose 15min candle
if do future or option keep trend parallels line is SL.
Reliance Second Doji FormationReliance has formed second Doji today. Still not able to clearly depict the movement. Same is the case with Nifty.
Look out for breakout either side for targets of either 2200 or 1600.
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.
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trend analysis 2020 bullish trend was rising inside a parallel channel but it had breakout that channel and making correction to bullish trend
correction wave are five impulsive wave which are ready to rest resistance which are at 50% fib retracement of trend.
Reliance Trend AnalysisBulls will be entering at 200 MA area as its falling at Golden Ratio and there is also an intersection of two trendlines as confluence.
It will be a good opportunity for the ones who missed previous rally.
This is just my view and it doesn't mean any kind of trade recommendation.
Always consult your Financial Advisor before any kind of trading or investment activity.
Namaste.
Reliance Buy I will buy Reliance at current price or 1845 and hold it for 2002 with stop loss of 1800
