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!
Relianceindustries
Reliance Chart Analysis 12/2/23While the price is above the support 2306 price is expected to fall as the current support will get broken
❤️ If you find this helpful and want more FREE forecasts in Trading View
Be sure to leave a comment; let us know how you see this opportunity and forecast.
❤️ Your support is very much 🙏 appreciated!❤️
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.
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.
Like, Share, Comment for regular updates.
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 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.
Reliance indsReliance inds looking good for tomorrow reliance breaked an trendline in 1 day time frame
retest pending in 1 day frame coming to the 15 min time frame breaked a 15 min trendline
and took support tomorrow price goes up and complete its retest at marked crucial level
and chance to reversal
Thank you NSE:RELIANCE