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RELIANCE

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 ---------------------------------------------------------- Support : 1732 (A good level for buying) Breakdown : 1800 CMP : 1826.75 Breakout : 1840 Short Target : 1874 and 1900 ---------------------------------------------------------- Positive & Negative Point: 1) Very Bullish in Daily/weekly/Monthly chart. 2) Treading in overbought zone 3) Debt free in two month. ---------------------------------------------------------- (Disclaimer: This is only for educational purpose.)
NSE:RELIANCELong
by singajai
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.
NSE:RELIANCELong
by md1908
RELIANCE | Very BullishReliance Industries has raised more than 100,000 Crore Rupees in the past 6 weeks, significantly reducing their net debt. - This is a good sign, showing institutional investors' interest and belief in the company. - Fundamentals aside, technically the price action seems to be breaking out of a Inverse head& Shoulder, along with a cup and handle pattern, Only adding to the bullishness of the stock. -MACD also is converging to form a bullish crossover on the 4H chart. - Reliance is a very big player in the Telco sector in one of the most populated countries in the world, showing their profit margin capabilities. I'm very bullish on this stock in the long term and i expect positive price action to follow up this week.
NSE:RELIANCELong
by kautilya_k