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Relianceindustries

Reliance- failed to create a strong High falls below 2350 ??Observations: A strong sell off is observed after opening gap up , so will expect a downward momentum in reliance to the level 2290. The RELIANCE has been trending upwards, but recently it broke through the higher low level at 2342 and dropped to a low of 2326. However, the previous supply zone at 2326 has acted as a demand level, causing the price to rise weakly towards the upside. At this point, it is uncertain whether the stock will continue to move higher or form a lower low. Further analysis is required to determine the likely direction of the price movement. Note: As of now it is in bullish, slightly turned to be bearish as a low is formed and weak momentum is observed towards high.
NSE:RELIANCE
by IIT-Trader
RELIANCE-Will create a lowerlow or continue upside.The RELIANCE has been trending upwards, but recently it broke through the higher low level at 2342 and dropped to a low of 2326. However, the previous supply zone at 2326 has acted as a demand level, causing the price to rise weakly towards the upside. At this point, it is uncertain whether the stock will continue to move higher or form a lower low. Further analysis is required to determine the likely direction of the price movement. Note: As of now it is in bullish, slightly turned to be bearish as a low is formed and weak momentum is observed towards high ,it may create lower low or can rise towards a strong level of resistance at 2400.
NSE:RELIANCE
by IIT-Trader
Reliance Ready for -35% Down Move from here..?Reliance/INR Chart Analysis :- Based on the chart analysis, Reliance is currently trading at ₹2322 and has broken the support level. This could lead to a big down move in the coming months, but there may be good buying opportunities for the long term around ₹1500-₹1600. The 0.50 Fib Retracement level is at ₹1584, which could lead to a strong bounce from that level. However, this analysis will only hold true if Reliance breaks the ₹2607 level. My key levels for Reliance:- support at ₹2218/₹1897/₹1584 and Resistance at ₹2680 Don't forget to like and appreciate my hard work, and follow me for the latest real-time updates on cryptocurrencies. Thank you!
NSE:RELIANCEShort
by CryptoPatel
4
RELIANCE LONG TERM VIEWReliance on a weekly chart is moving in a fixed channel for a long time. 2350 is a crucial level for reliance if it breaks we can see a good downfall in this stock. And if it bounces back from this level, the previous high of 2800 level can be expected. Trade safe. Manage risk. Be profitable. Please follow us for more simple trading analysis and setups. Also, let me know in the comment if you have any queries. Disclaimer:- This is my view. Please analyze the charts yourself and then decide to take any trades.
NSE:RELIANCE
by simple_trader2022
1