RELIANCE
RELIANCE : near resistance RELIANCE : Down trend in hourly chart since many days. now its near to resistance for trendline & also near flip Resistance. Please watch closely (in 15 min chart ) all the candle formation and enter in trade. IF Breakout & retest of Flip level we can see 2600 on table and Nifty with our next target as per Nifty chart.
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
Reliance Harami type candle on resistance#Reliance in triangle consolidation after Trendline breakdown.
And formed harami looking candle pattern on Resistance today.
Can initiate Short position if it breaks today's & yesterday low around 2550 with SL of 2580
Trgt 2510-2490.
If breaks today's n yesterday high around 2580 then can initiate Long position
With SL below 2550. For trgt 2625, 2675 & 2725 final positional.
Reliance indDay chart of reliance ind
it is making triangle pattern on daily chart in which important support zone is 2490 zone and Resistance is trendline
& today it is making inverse hammer candle which indicates bearish view for monday. On monday if this stocks breaks friday low then I will start shorting.
Reliance The Name IS EnoughRIL is taking nice support around 200 days EMA and it might be time to compound the stock. If you don't have Reliance it might be a good opportunity to add. If it goes down will definitely provide an opportunity to average on bounce. Further compounding can be done after it crosses and closes above 2578.
Targets: 2662, 2757.
Long term target: 2858.
Eventually it might reach 3000+.
One stock where I would not put a trailing stop loss. but if you want to keep a trailing stop loss you can keep it at closing below 1850.
Enough has been said about the stock on various occasions.
NIFTY ENERGY, FALL OF 13%this fall could take a bit more time, then drawn on chart, but from chart we could clearly see that nifty energy is overvalued.
in all time frame, the rsi currently is at 60, the average, or the mostly rsi being in the chart is around 50. although, it has been falling, and yet following a triangle pattern. there could be a downside, fall.
the dark black line is the trend, which is drawn from 2004''s trend till its ATH.
the trend should be followed by the indices. adani stocs could fall, they have made the index to go a lot upside, in the short term, there could be a lot volatility, and in coming months, the index may falling by 13%.
reliance is somewhat discount(weightage- 35% in nifty energy),
NTPC also fall in a good amount.
in 5 year time frame, rsi is also showing a good trangle pattern. if any breach on downside of support, will result in start of bear market, for nifty energy.
i am saying volatile because
reliance is discounted, NTPC, could go up by 5-7% then fall, and adani stocks are rarely unpredictable, so this may cause the index to move up-down, causing volatility, but in longer term, it looks overvalued, and will fall about 13%.
#ABAN #ONGC #IOC #RELIANCE #OIL #HINDOILEXP #ASIANENE #SELAN #IT
#ABAN
NSE:ABAN
CMP: 54
TP: 74
SL: 44
TF: <6m
RR > 2 times
Return 17%
Factors:
BULLISH WEDGE BREAKOUT
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations.
With 💚 from Rachit Sethia
#DELTACORP #NAZARA #CASINO #GOA #TRADINGTIPS #StocksToWatch #nseNSE: DELTACORP
CMP: 232
Target: 290+/++
SL: 211
RR > 3 times
RETURN > 25%
Timeframe < 6M
NSE:DELTACORP and NSE:DELTACORP1!
Factors:
BULLISH WEDGE BREAKOUT
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations.
With 💚 from Rachit Sethia