Reliance Industries retracement levels1437 is the first important retracement level after the recent profit booking
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Relianceindustries
RELIANCE - ALT BAT - new rally only above 1650RELIANCE - ALT BAT - new rally only above 1630
Reliance hourly chart has probability of altbat pattern and currently its trading near its prz zone i.e 1620-1630
High Volume Spinning candle near prz is again a warning that cannot be ignored.
This alt bat pattern is also aligned with reliance previous resistance at 1590-1600 levels.
Short below 1575
Long above 1630
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Reliance has given Breakout
Reliance is super bullish with a small hurdle @ 1593 for targets 1608 / 1615 / 1630+
1550-1555 will act as a support zone..........
below 1550 bulls can loose steam...............
reliance it's nr to ATH, this resistance is very important.if price manage to break this level with volume, price can go like rocket. but it's really tough to break this level right now, if price going to face resistance then we all are know what will happen.
Positional Reliance looks a good buy above 1445Positional buy - Reliance with target of 1550 and more SL 1370
Reliance Sideways to bullish
1497 likely target in 3-4 trading sessions CMP 1464.20
Below 1440 target of 1408 not ruled out
My view on REL industriesAs per chart & Darvas box
i suggest buying range for Reliance 1432-1412-1392-1380 for near term target 1600+
RELIANCE CLEAR CUT 1290 TGTA classical H&S pattern.
A good retest and then...
RELIANCE is weak as long as below 1414
Spot 1408.90
TGT 1290
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RELIANCE - 1350-1320 Re-test before we head higher?NSE:RELIANCE
Reliance has been moving down with mostly red candles at daily since it's all time high. Currently, it is at 0.786 region of fib and if it starts to head higher from there, that can be very bullish but such an event is quite less probable. Chances are that it may want to come and retest 1350-1300 region (if 1400 breaks) which coincides with a previous swing low and an important 0.618 fib level.
The previous two trading session saw a small upside but they were not supported by volume (as see in the chart). I would like to see increase in green volume if we are to break to new all time highs for Reliance.
Reliance is a fundamentally strong stock so for long term, we can be bullish.
Daily RSI
Reliance - 54 - Neutral
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RELIANCE - GO SHORT FOR A TARGET OF SUB- 1400 ON 26 MAY 2020RELIANCE - GO SHORT @ CMP WITH A SL OF 1462 AND A TARGET OF 1391. TARGET SHOULD BE ACHIEVED BY 26 MAY 2020
RELIANCE WAIT FOR BREAKOUT, NEW VALUE SHIFTING IS AHEAD !keep watch on reliance or set alarm on chart ,when up side or downside breakout will come ,
take position for short term.
above drawing is verified as value area by me time to time.
and i personally took trade and earn from trend .
if you like and find value from above chart kindly like and follw.
Reliance Industries Trading Setupprice holding the Trend line support really well and Try to make above with good partnership coming which is possible .
But from Technical Side stock need some rest and healthy retracement for price to move upward side .
Breaking this support will send Reliance price to new level around 1300 and holding above will send the price to 1550 Price zone.
Waiting for any confirmation and than enter the Trade
RELIANCE - INTRADAY TRADERELIANCE - INTRADAY TRADE
Based on simple trend structure + Candlestick pattern + RSI RANGE SHIFT
Positional Reliance looks a good buy above 1445Positional buy - Reliance with target of 1550 and more SL 1370
RELIANCE - GO LONG FOR A NEW HIGHRELIANCE - GO LONG WITH A SL OF 1412 AND A TARGET 1 OF 1496 AND A TARGET 2 OF 1528. IF TARGET 1 IS ACHIEVED BY 18 MAY, REMAIN IN POSITION FOR A NEW HIGH BY 22 MAY 2020
Reliance - Key Reversal Candle at previous resistanceReliance Industries formed key reversal candle on its weekly chart confirming previous resistance @1600 levels.
Negative Divergence at 60 levels is clearly visible on the chart.
So coming any move below 1400 levels can take stock to 1200 to 1150 levels.
Reliance IndustriesHello friends, how are you doing today?
You can Long reliance: 1490-1480 with stop loss 1450
for likely toward the target of 1550: 1620
Our last month analysis rocks
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RELIANCE INDUSTRIES EXPECTEDD TRENDLINE BREAKDOWNAS YOU CAN SEE RELIANCE IS AT ITS MAJOR RESISTANCE AND ITS ALSO NEARLY 60% UP FROM ITS PREVIOUS LOW WHICH MEANS FIBONACCI RETRACEMENT POINT IS ALSO ACTIVE HERE SO THERE IS EXPECTED BREAKDOWN IN RELIANCE AND IT MIGHT BE A SMALL CORRECTION.
ITS ONLY FOR EDUCATIONAL PURPOSE
