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RELIANCE : BET ON FNO AND SWINGTechnical Analysis of Reliance Industries on 1-Hour Chart Overview of the Chart The chart represents Reliance Industries on the 1-hour timeframe , highlighting key concepts such as CHoCH (Change of Character), demand zones, and the golden retracement zone. Tools Used: Price Action : Key highs/lows, retracement zones. Demand Zones : Mitigated demand areas. Golden Retracement Zone : Optimal entry for Wave B based on Fibonacci levels. Swing Target : Projected target for Wave C. Key Levels and Concepts Explained Extended Retracement Zone (Deep Retracement): ₹1,261.20 – ₹1,252.70 This zone marks a potential support area for buyers after a correction in Wave A to B. Buying Tip: Look for reversal signs in this zone. Stop Loss: Below ₹1,252.70 to manage risk effectively. Golden Retracement Zone (Wave B): ₹1,241.30 – ₹1,261.20 Located at the 61.8% Fibonacci retracement level, a high-probability area for a reversal upward. Buying Strategy: Enter within this zone if price shows bullish signs like engulfing patterns or pin bars. Stop Loss: Just below ₹1,241.30. Target: Swing high at ₹1,341 – ₹1,354 (Wave C). CHoCH Zones: Failed CHoCH: Price rejected near ₹1,273.75 and corrected lower. Demand Zone: Strong demand needs to emerge at ₹1,261.20 for a reversal upward. Tip: Look for bullish confirmation near demand zones or the golden retracement. Swing Target Zone: ₹1,341 – ₹1,354 Represents the projected target for Wave C if the retracement zone holds. Partial Profit Tip: Book profits near ₹1,341 – ₹1,354 and trail stops for further upside. Stop Loss Strategy Stop Loss on Failure: Below ₹1,241.30. If price closes below this level, the bullish setup is invalid, and traders should exit to limit losses. Buying Tips at Key Levels Primary Buy Zone: ₹1,241.30 – ₹1,261.20 (Golden Retracement) Look for bullish confirmation like pin bars, engulfing candles. Stop Loss: Below ₹1,241.30. Target: ₹1,341 – ₹1,354. Aggressive Buy Option: ₹1,261.20 Scale into positions near mitigated demand with tight stop losses. Key Observations Wave Structure: Price is in Wave B (corrective phase), aiming for an upward Wave C. Demand Zone: Buyer defense at the golden retracement confirms bullish outlook. Risk Management: Always use stop losses to avoid significant drawdowns. Summary of Key Levels Key Levels Actions ₹1,241.30 – ₹1,261.20 Buy Zone (Golden Retracement) Below ₹1,241.30 Stop Loss ₹1,341 – ₹1,354 Swing Target Zone By following this plan, traders can align with price structure, optimize risk-to-reward, and trade effectively.
NSE:RELIANCELong
by LiveTradingBox
The Next Chapter for Reliance...?Reliance has demonstrated a significant shift in its price action by breaking out of the prevailing downtrend. This is an important indicator as it suggests potential momentum for upward movement. Following this breakout, the stock has successfully retested the downtrend line, confirming its strength and validity. Currently, it is trading within a critical support range between 1280 to 1290 rupees. This level has historically provided a foundation for price stability, indicating that there is buying interest around this area. There are three compelling reasons to consider entering a long position at this juncture: 1. **Break of the Trendline**: The breach of the downtrend signifies a potential change in market sentiment, which can often lead to further gains. 2. **Successful Retest**: The fact that Reliance has tested the broken trendline and held suggests that the previous resistance is now acting as support, which increases the likelihood of upward movement. 3. **Maintaining Support Levels**: The stock's ability to stay above the significant support range of 1280 to 1290 rupees indicates strong buying pressure. It reflects investor confidence and may serve as a psychological barrier against further declines. Given these factors, now may be an opportune moment to consider a long position in Reliance.
NSE:RELIANCELong
by Kartik_Elkunchwar
Reliance--S/R levelsI am sharing the important levels of Support and Resistance. These levels plays a crucial role in trading decisions, as they act as reliable markers of price movements. ------>>Support levels are price points where an asset tends to find buying interest, preventing it from falling further. ---->Resistance levels, on the other hand, are points where selling pressure typically prevents the asset from rising higher. Take a look at these levels and trade accordingly. Recognizing and respecting these support and resistance levels can help traders make informed decisions and manage risk effectively. They serve as key reference points for technical analysis and are vital tools in successful trading strategies. Trade safe...Thank you guys for your support
NSE:RELIANCE
by IIT-Trader
1
RELIANCE--Near Its Demand Zone?? look for buy when price test this demand Zone. I am sharing the important levels of Support and Resistance. These levels play a crucial role in trading decisions, as they act as reliable markers of price movements. ------>>Support levels are price points where an asset tends to find buying interest, preventing it from falling further. ---->Resistance levels, on the other hand, are points where selling pressure typically prevents the asset from rising higher. Take a look at these levels and trade accordingly. Recognizing and respecting these support and resistance levels can help traders make informed decisions and manage risk effectively. They serve as key reference points for technical analysis and are vital tools in successful trading strategies. Trade safe...Thank you guys for your support. The information provided on this platform/website/blog is for informational purposes only and should not be considered as financial or investment advice. It is not intended to be a substitute for professional financial advice or consultation. The content presented here is based on personal opinions, analysis, and research, and it may not always reflect the most current market conditions or regulations. Investing in stocks, bonds, commodities, or any financial assets carries inherent risks, and individuals should conduct their own due diligence and consult with a qualified financial advisor before making investment decisions. Past performance is not indicative of future results. The value of investments can go up or down, and there are no guarantees of profit or protection against loss in the stock market. We do not endorse, recommend, or promote any specific stocks, securities, or investment strategies. Readers and users of this information are solely responsible for their investment decisions and should consider their own financial situation, risk tolerance, and investment goals. Trading and investing in the stock market can involve substantial risk, and it is possible to lose more than your initial investment. We make no warranties or representations about the accuracy, completeness, or reliability of the information presented. We disclaim any liability for any loss or damage arising from the use of this information or reliance on it. Please be aware that regulations and tax laws related to investments may vary by jurisdiction, and it is essential to understand and comply with the specific rules and regulations applicable in your location. By accessing and using this platform/website/blog, you agree to this disclaimer and acknowledge that you have read and understood the information provided herein. It is your responsibility to review and accept the terms of use and privacy policy of this platform/website/blog. This disclaimer may be updated or modified without notice, and it is your responsibility to review it periodically for any changes.
NSE:RELIANCE
by IIT-Trader
7
RELIANCE BULLISH BREAKOUT | 10% UPSIDE POTENTIAL | SWING TRADEThe price has recently broken and closed above the resistance level of 2480. Reliance was trading in a downtrend, but this breakout marks the FIrst HIGHER HIGH, the beginning of a new uptrend. NIFTY is also trading above its resistance level, which gives more confidence that Reliance may go up in coming days, as Reliance has heavy weightage in NIFTY INDEX. Long entries can be opened as long as price is trading above 2840. Stop loss 1. For aggressive traders- daily close below 2480 2. For conservative traders- below 2410 Targets 1. 2600 2. 2750 Let me know in the comments section if you want me to analyse any other financial instrument. WARNING:- ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE TAKING ANY TRADE.
NSE:RELIANCELong
by rohitkukreja
2