RIL S/R for 16/12/24Support and Resistance Levels:
Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
MA Ribbon (EMA 20, EMA 50, EMA 100, EMA 200) :
Above EMA: If the stock price is above the EMA, it suggests a potential uptrend or bullish momentum.
Below EMA: If the stock price is below the EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
Disclaimer:
I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
RELIANCE trade ideas
RELIANCEHi guys,
In this chart i Found a Demand Zone in RELIANCE CHART for Positional entry,
Observed these Levels based on price action and Demand & Supply.
*Don't Take any trades based on this Picture.
... because this chart is for educational purpose only not for Buy or Sell Recommendation..
Thank you
Reading the charts and Learning Techno-Funda Analysis. We will continue our weekly study of reading charts Today we will try to understand how to read the chart of Reliance Industries and learn how to make assumptions based on the same. First thing that one must understand that reading the charts is not a rocket science. One has to be creative, attentive and a sort of meditative while reading a chart. When you keep looking at it with focus and keep on asking the question and reasoning behind the moves you will definitely get your answers. Thus by asking the question to the chart and by observing the chart and searching fo the answers by noticing the patterns, historic layouts, supports, resistances and applying certain amount of basic maths and common sense one can come to know about the risk is to reward ratio in buying a stock or a derivative. Let us have a look at the Weekly chart of Reliance Industries. Remember we are not recommending this stock we are learning how to read the chart. The purpose of article was is purely Educational.
The First thing that I observe here is that trend line provided the stock is moving in a particular parallel channel. Many of the stocks do move in channels. Reliance hit the channel top at 1608 and has been correcting and searching for bottom ever since. The low that it made was 1217 where it found a support at a trend line. After that it again tried to move upwards but faced a resistance near 1316 and corrected again this week until it found a support on the same trend line today at 1239 and bounced again to close the day and week at 1272.85. Again the resistances for reliance will be near 1316, 1355 and then 1380. 1380 will be a difficult resistance to conquer as it is the 50 Weeks EMA or the Mother line of weekly chart. 1380 currently also happens to be the mid channel resistance. Making it again a difficult resistnace to conquer. Above 1380 Reliance becomes very strong and can go to 1442, 1530 and 1602. Channel top seems to be at 1770.
Supports for Reliance seems to be at 1241, 1218 and the zone between 1174 and 1181. This zone seems to be a very strong support as 1181 is 200 Weeks EMA and 1174 is the channel bottom support. So in all likely hood in case there is a closing below 1241 this is the zone where the stock can end up. MACD is in the negative zone but it is starting to turn towards positive zone. However there is still some distance to go before the moving averages converge and becomes positive. RSI of the stock 35.37 and looks bearish. RSI support zone can be the zone around 30.
Fundamentally Reliance as we all know is one of the premier Indian company with a market cap of Rs.1722468.1 Cr. Price to Earning ratio of the stock is 25.6 which can be considered moderate valuation. Negative aspects of Reliance are that promoter holding of the stock decreased slightly by 0.1%. Net cash flow is again a slight issue currently alsong with fall in QonQ revenue. Positive aspects of the company are that Net profit has grown along with profit margins QonQ. Reliance is a company with low debt. Reliance has Zero promoter pledge. MFs have increased their shareholding in last quarter. Why I mentioned the fundamentals of the stock here is because when you buy a stock you need to look at the Fundamentals of the stocks along with Technical analysis. That is Techno-Funda analysis of a stock in true sense.
I sincerely hope that this write-up will help you in reading the charts, understanding the importance of charts and understanding fundamentals of the company. These aspects are necessary for you to becoming a better investor. For more such snippets of knowledge please keep reading my Smart Investment, Smart Bonanza and Smart Plus articles. I also have a youtube channel by the name of Happy Candles Investment. You can also find me on X by the handle @candles_happy. For in-depth understanding of Techno-Funda investing you can read my book which is The Happy Candles Way to Wealth creation. This book is available on Amazon in paperback and Kindle version. The book contains valuable tips for you to maximise your profits from stock market and wealth creation. It also explains my much coveted Mother, Father and Small Child Theory.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. There is also chance of bias in our opinion. I, my family or my clients may have a long position in the stock. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
Reliance Down but seems not out. Reliance is one of India's premier companies with a market cap currently at Rs.1710830.2 Crores. After the stock split the stock lost momentum and had been falling drastically. Right now it is belo Mother and Father line on daily charts. With profitability and EPS set to increase from 2025 onwards as per the last Speech of Mr.Mukesh Ambani Reliance still can to be ruled out as a long term pick and a portfolio stock.
Technically the stock is weak but as it is a Long term investment idea and Portfolio stock the levels at which it is trading are looking mouth-watering. Tracking quantity entry or X/3 entry levels are mentioned below for the stock.
There is a news today of Reliance entering a long term contract with Russia worth 13B a year at current prices. Along with this news Reliance is trading at a price of 1263. The near by support zones are at 1241 and 1218. Long term support is near the zone of 1150 to 1043. X/3 entry for educational purpose of tracking quantity of Reliance can be taken at current levels or if it falls further to 1241 or 1218 levels and bounces from there. (Entry on bounce not while it is falling). The second entry can be taken on bounce after closing above 1328. Final entry after closing above 1387 levels. Long term targets for Reliance will be 1442, 1530 and 1600+ levels. Stop loss can be maintained at a monthly closing below 1043 (It is very unlikely if it goes there).
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
RELIANCE KEY LEVELS FOR 12/12/2024//@description
// All credit goes to Tony for the concept of this indicator. His Trading View link: www.tradingview.com
// Note: The calculation method in this indicator differs from Tony's, but the concept is derived from his work.
**Explanation:**
This trading system helps you avoid blind trades by providing confirmation for better entries and exits. It considers volume, past prices, price range and indiavix.
**Entry/Exit Points:**
- **Entry/Exit Lines:** Use the BLACK line for long trades and the RED line for short trades, based on confirmation from your trading plan.
- **Stop Loss:** For long trades, set the stop loss at the RED line below. For short trades, set it at the BLACK line above.
- **Take Profit:** For long trades, target the next RED line above. For short trades, target the next BLACK line below.
**Timeframe:**
Use a 5 timeframe for trading.
**Risk Disclaimer:**
This setup is for educational purposes. I'm not responsible for your gains or losses. Check the chart for more details.
RIL S/R for 11/12/24Support and Resistance Levels:
Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
MA Ribbon (EMA 20, EMA 50, EMA 100, EMA 200) :
Above EMA: If the stock price is above the EMA, it suggests a potential uptrend or bullish momentum.
Below EMA: If the stock price is below the EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
Disclaimer:
I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
Reliance | Short | SwingReliance is showing signs of weakness.
The Daily Pivot was rejected in the morning session and now the Weekly Pivot is also struggling to hold.
The overall trend in the Daily time frame is on the Short side.
There is a strong likelihood that price will go to test the Monthly Pivot again - 1288 levels.
Needless to say, this could also drag Nifty down.
GO LONG ON RELIANCEGo Long on Reliance. The script has made a low of 1270 after making a high of 1600. The script today stands at 20% Correction. All the Time frame short and long have made a decent low. The indicators are all oversold. So one can accumulate Reliance in the range of 1270 - 1300 with targets of 1700 in coming time of 6 months. Stop Loss 1220.00 So Buy Reliance at current market price for target of 1700.
A BUY CALL IN RELIANCE - 20 % UPSIDE MOVE STARTSEverything is pretty much explained in the picture itself.
I am Abhishek Srivastava | SEBI-Certified Research and Equity Derivative Analyst from Delhi with 4+ years of experience.
I focus on simplifying equity markets through technical analysis. On Trading View, I share easy-to-understand insights to help traders and investors make better decisions.
Kindly check my older shared stock results on my profile to make a firm decision to invest in this.
For any query kindly dm.
Thank you and invest wisely.
The Next Chapter for Reliance...?Reliance has demonstrated a significant shift in its price action by breaking out of the prevailing downtrend. This is an important indicator as it suggests potential momentum for upward movement. Following this breakout, the stock has successfully retested the downtrend line, confirming its strength and validity.
Currently, it is trading within a critical support range between 1280 to 1290 rupees. This level has historically provided a foundation for price stability, indicating that there is buying interest around this area.
There are three compelling reasons to consider entering a long position at this juncture:
1. **Break of the Trendline**: The breach of the downtrend signifies a potential change in market sentiment, which can often lead to further gains.
2. **Successful Retest**: The fact that Reliance has tested the broken trendline and held suggests that the previous resistance is now acting as support, which increases the likelihood of upward movement.
3. **Maintaining Support Levels**: The stock's ability to stay above the significant support range of 1280 to 1290 rupees indicates strong buying pressure. It reflects investor confidence and may serve as a psychological barrier against further declines.
Given these factors, now may be an opportune moment to consider a long position in Reliance.
Reliance Industries Ascending Triangle Retest"Reliance Industries is showing a potential ascending triangle formation on the weekly chart after a retest of a key trendline support. Watch for a breakout above the resistance zone to confirm bullish momentum. Key levels and patterns highlighted for a clearer trading strategy."
Reliance | Short | Swing | STBTReliance has slammed into resistance and is looking due for a reversal.
The weekly Pivot has not been tested and hence, there is all likelihood that it should fall and take Nifty down with it too. (Refer to my post on Nifty short dated 25 Nov.)
I have taken a short position on Reliance.
Let's see..
Reliance Industries Ltd view for Intraday 25th Nov #RELIANCE Reliance Industries Ltd view for Intraday 25th Nov #RELIANCE
Resistance 1280-1282. Watching above 1282 for upside movement...
Support area 1245-1240 Below 1260 ignoring upside momentum for intraday
Support 1245-1240 Watching below 1239 for downside movement...
Resistance area 1280-1282
Above 1260 ignoring downside move for intraday
Charts for Educational purposes only.
Please follow strict stop loss and risk reward if you follow the level.
Thanks,
V Trade Point
RELIANCE will get the PERFECT BOUNCE?The weekly chart for Reliance Industries showcases a critical price zone near ₹1,300, which the stock needs to decisively break above to confirm a bullish reversal. A recent retest near ₹1,265 aligns with the 38.2% Fibonacci retracement, suggesting potential technical support. The upside targets are projected between ₹1,372 and ₹1,473, while a closing below ₹1,226 invalidates the bullish outlook.
From a fundamentals perspective, Reliance’s Q2 FY24 earnings fell slightly below market estimates. The company reported an EPS of ₹12.25 against an estimate of ₹12.802, with a revenue miss of ₹42.9 billion (1.82%). Despite the earnings surprise, the stock underwent a 2-for-1 stock split on October 28, 2024, which may attract retail investors and provide liquidity.
Technical and fundamental indicators together suggest a cautious but optimistic outlook. Traders should watch the ₹1,300 resistance level and monitor broader market conditions, while investors should evaluate earnings growth alongside long-term potential.
SWING PICK - GO LONGENTRY
- lines marked below is potential reversal zone ( PRZ)
- entry is strictly inside the zone
- look for buying confirmation in smaller time frame ( 15 minutes preferred )
EXIT
1. target
- mark fib retracement from C to latest swing low
- TGT 1 - 0.236 fib level
- TGT 2 - 0.382 fib level
- TGT 3 - 0.5 fib level ( preferred target )
2. SL
- candle close below (PRZ)
- if u didn't get confirmation inside the zone , ignore this pick
- if candle close is below zone , this pattern becomes invalid . IGNORE THIS PICK
- RE-ENTRY can be done , if u again get buying confirmation inside the zone