Ril
Reliance Showing Early Signs of Top Formation⚡️Early Signs of Top Formation
⚡️ Stage-4 may be confirmed below the 2000-2030 zone only
⚡️If it enters in Stage-4, it may go toward 1500-1600 zone
⚡️Except Covid Crash, first-time price sustained below 200 DMA &Weekly RSI below 40
⚡️ Looks like Reliance Chart follows 78-80 Week time cycle
⚡️The current time cycle is about to complete in next 2-4 weeks
Phoenix085-Analysis RILThe crucial SnR's are marked on the chart...
As per my analysis and the way price has reacted recently...
I feel there's a certain uneasiness in RIL stock which if supported by the Nifty, would definitely come crashing down to the 2450 or even 2400 levels...
These are just my analysis and not recommendations... Cos if i am not getting a penny from your profits would not be right to hold me accountable for your losses...
RelianceReliance CMP 2396
Looking at the structure...
I feel that RIL has completed its ABCDE which can make it as Wave A...
and if we hold blue line...
Red lines would be Wave B tgt....
and from there RIL is ready for Wave C ...
and expecting it to fall nicely!!
Just a View!!
Vedang :)
Chart is for study purpose only!!!
RELIANCE weekly analysis-Taken Support from MA @2545NSE:RELIANCE Reliance is showing good strength on charts and it has taken good support at 2545 levels.
If this level is not broken on next week, we can see higher highs in Reliance, which would stay UP until Crude Oil prices continue to stay high @120$ per barrel.
RELIANCE as discussed on Big move to Lifetime HighsNSE:RELIANCE is going Up as discussed, today's move brings it very close to lifetime highs.
RELIANCE manages to move NIFTY up quite a bit today. If RELIANCE could give a fresh breakout anytime this week or next, its time to initiate fresh longs on this counter for MEDIUM to LONG TERM.
RIL are we going to test 2515-25RIL if we see carefully on daily and weekly , we see a similar pattern , and if this pattern if actually plays out in real then RIl can test 2515-2525 levels in coming days before starting a fresh upmove ..
retest if 2500 zones is very much possible..
lets see how things unfold in coming days..
RELIANCE - NSECo website
www.ril.com
39% Market share in telecom ( JIO ) with a possibility of only two telecom servicies to remain in India- Airtel and Jio.
Fast growing broadband presence
Oil bullish for $90 + to pump the bottomline of reliance
Front runner in bringing 5G to india, multiple investments from BIG names-- Facebook, Google, Silver Lake, Vista Equity Partners etc
Focus on renewable energy, control over mass media.
In short- An Elephant
Trivia- look JIO in a mirror and you get OIL, after all data is the new oil :)
RIL looks like a good buy at current levelsPost decent Q1 results also with increase in sales makes Reliance bullish on the fundamental side.
Let's talk about the technicals now. The stock has been stuck in a zone for quite sometime now and looks good to take support of the 2100 levels to move upwards of 2200+.
This is just an avergae trader sharing one of his analysis. Please take risk as per your apetite. Not NSE certified, yet. ;-)
Cheers and happy trading.
Double Calendar Spread - RelianceExpecting 1800--2200 Range for Reliance.
-1x 24JUN2021 2000CE - ₹ 51.00
+1x 29JUL2021 2000CE - ₹ 71.15
-1x 24JUN2021 2100CE - ₹ 20.15
+1x 29JUL2021 2100CE - ₹ 40.00
Max. Profit - ₹ +22,808
Max. Loss ₹ -10,000
Max. RR Ratio - 1:2.28
Breakeven - 1863.0-2298.0
Estimated Margin/Premium - ₹ 1,30,000