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Relianceindustries

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 - BUY IN DIPSReliance is a good buy in the dips around the support region, in the last few trading sessions, we have seen huge selloffs and profit booking but the price has been making higher lows since the last couple trading sessions. It's on the road to recovery but will find it challenging to break the resistance which has formed over the last 3-4 months of trading. We are not expecting any major news for the price to breakout quickly which happened in the last few months. There's still the saudi aramco deal to go through which may come as a suprise to anyone on the market.
NSE:RELIANCELong
by jashjacob
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.
NSE:RELIANCE
by Pattern_Study