Reliance approaching H&S top correction target at 1250Reliance has shown a classic Head and Shoulders top - which usually means an ensuing correction. The correction target is around 1250by caljosh1Updated 117
Reliance Industries, are we in bear cycle?It is observed from the chart that we are heading into a bear cycle for Reliance Industries. Coincidentally, the Fibonacci retracement level of 0.618 aligns with the encircled area, indicating a potential support zone. Furthermore, the Gann support also appears to converge in this area, suggesting a strong support level. This convergence is highlighted by the cycle nearing its end around the encircled area, which may point to a possible reversal or a halt in the current downward trend. Disclaimer : This analysis is provided for informational purposes only and should not be construed as investment advice. Always consult with a qualified financial advisor before making any investment decisions. by imkhushal5
Reliance Industries Case StudyHistorically RIL always bottom formed near 200 week SMA Zone (+- 5%) . Low Risk zone near multiyear support 970Longby PrasantaPUpdated 4
Strong weekly support indicate good buying levelReliance has fallen from its peak of 1608.80 to the level of 1241.65. 22% correction from top is good opportunity for long term investor to enter into reliance. Longby rampalxyz2
Reliance near major support zone. Reliance is a large cap company with a market cap of Rs.17,15,224 Crores. CMP of the stock is Rs.1268 with and EPS of Rs.50.2. PE of the company is 25.2. Ten year PE is 21.2. PE in July was 30.9 which has corrected to 25.2 now. Reliance Industries is a fundamentally strong stock. The company covers following sectors. 1) Energy a) Oil and Gas Exploration & Production b) Refining & Marketing c) New Energy & New Materials (Production of Green energy 2) Petrochemicals a) Textiles b) Polymers c) Polyesters d) Fibre Intermediates e) Aromatics f) Elastomers g) Reliance Composites Solutions 3) Retail a) JioMart b) Smart Bazaar, c) Reliance Digital d) Just Dial 4) Jio a) Digital Services b) Telecom 5) Media and Entertainment a) Jio Cinema b) via com18 c) Network 18 d) Jio Studios Thus Reliance is a company with vivid portals of revenue generation and investing in one company called Reliance empowers you into investment in spectrum of companies with multiple revenue sources. Investing in Reliance is like investing in Mutual fund. The Weekly Chart (which we use for gaining long term perspective of a company) of Reliance indicates it is near a support zone. Immediate support being at 1254. 200 Weeks EMA of the stock or the Father line support is at 1176. This indicates that the stock might be near the bottom if it has not formed the bottom already. On the upper side when Reliance starts to move upwards the resistances will be at 1331 and 1396. 1396 being major Mother line resistance of 50 Weeks EMA. Above 1396 weekly closing Reliance will be very bullish again and can regain the levels of 1532 and 1600+ levels in 6 to 12 month. Channel top seems to be in the range of 1753 to 1980 range depending on the future results and future performances of various revenue streams. Bollinger band suggests a bounce in short to medium term in the stock. Looking at the index and weightage of Reliance in the index it will be imperative for Reliance to bounce for index to bounce in a most probable scenario. The waiting period can be 6 to 12 months as the stock is not very strong on technicals. however it is not below 200 Weeks EMA either. Overall Reliance is a large cap stock that has created immense wealth over the years and I do not see any reason currently why it can continue to perform and create wealth for years to come. Outlook for the company in the year 2025 specially 3rd Quarter onwards looks very upbeat once the Green Energy production and revenue strats to trickle in. There is also a possibility of listing of JIO Digital and Telecom as a separate company in they year 2025. Listing of Reliance Retail as a company will be next. (Post Jio telecom listing). The potential of value unlocking in the stock remains immense in our opinion. To know more about Techno-Funda investing, Mother Father and small child theory, Parallel channel you can read my book The Happy Candles way to Wealth creation available on Amazon in paperback or Kindle version. My book is now also available on Google Play books. Do read it. Have a look at the reviews which say that the book is a masterpiece and can be considered as a hand book for investing in equities. 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. by Happy_Candles_Investment1
Reliance at Support ZoneRelance at crusial support Zont in botH Monthly and Daily time frame ...Longby chamarthibharath96
Reliance next levels to followReliance in the direction to form Cypher or shark pattern. Next levels to watch 1217 / 1210 / 1160 Shortby NileshPrajapati85339
A great Oppurtunity1. Price Action and Trend Lines: The stock price is in a downtrend, with a visible downward-sloping trendline that could act as resistance in the future. There’s a horizontal support level near 1285, around where the price currently is. This could serve as a potential level for a bounce if buyers step in at this level. The blue arrows on the chart seem to indicate possible future price directions: an upward bounce from the support level or a continuation downward if the support level breaks. 2. RSI (Relative Strength Index): The RSI is around 30, which is near the oversold territory. This level often indicates that selling pressure may be exhausted, and a potential reversal or bounce could occur. However, the RSI hasn’t shown a strong reversal signal yet, so a confirmation with price action or other indicators would add strength to a bullish view. 3. MACD (Moving Average Convergence Divergence): The MACD is in negative territory, with the MACD line and signal line both below zero, indicating bearish momentum. However, the lines are close to each other, which might suggest a reduction in bearish momentum or potential convergence. A bullish crossover (MACD line crossing above the signal line) would signal a possible trend reversal, but this hasn’t happened yet. 4. Possible Scenarios: Bullish Scenario: If the stock finds support at the current level (around 1285) and the RSI moves up from the oversold zone, there could be a bounce or recovery. A MACD crossover would further support this scenario. Bearish Scenario: If the price fails to hold the 1285 support level, a continuation of the downtrend is likely. This could lead to further decline, especially if there’s strong selling pressure. 5. Conclusion: This chart suggests a critical juncture for the stock. A bounce from support could lead to a short-term recovery, but a breakdown would confirm the continuation of the downtrend. Traders might wait for confirmation from indicators (like a MACD crossover or RSI bounce) before entering a position, as the price action at this support level will be key to determining the next direction.Longby debjit628
RELIANCE AT DISCOUNTED PRICE Reliance is currently at discounted price, good to accumulate at these ZonesLongby arandhara119
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 Longby rajeevmmails0
Reliance is weak and shortedReliance is clearly Weak and is the main contributor for Nifty crash along with TCS. Reliance has rejected the Weekly Pivot which is a clear sign of weakness. I have taken a STBT type short on Reliance with a target to 1228.Shortby Sky_Tracer1
RIL S/R for 18/11/24Support 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. 20 EMA (Exponential Moving Average): Above 20 EMA(50 EMA): If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum. Below 20 EMA: If the stock price is below the 20 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. RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory. Combining RSI with Support and Resistance: Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal. Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset. 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.by zenthosh0
Reliance has formed H&S & seem to be in process of making a top!NSE:RELIANCE seem to have formed H&S formation. Structure is tilted on the left and has formed over a long period (~10 months). Finally the structure seem to have completed though the price is still trying to bounce from the neckline. Today we have an evening star kind of formation which might push the price towards neckline in a breakdown attempt this week. I can see similar formation across charts and when you see such formations in multiple charts, it typically suggests a top formation is occurring. It has been a slow process and might take some more time before these H&S start materializing so some amount of patience is needed. I guess we are close to making a near term top in Indian markets. Shortby YetAnotherTAUpdated 8
Reliance Industries#Reliance trading at major support. RSI divergence on daily time frame can be observed. It's time for reliance to turnLongby siddhantsamaiya6
Reliance near support zoneReliance has a good support zone between 1280-1300. So, accumulate reliance with stoploss of this support area, below these levels we can expect a good downward movement. On the upper side we have a huge resistance near 1435.by Parveen_Verma7
RELIANCE INDUSTRIESRIL has made its channel support bottom side, now it should go upside , fresh entries can be madeLongby darwas121118
Reliance chart analysisReliance chart analysis on weekly time frame. Stock looks like at good support. Can go long if it takes support.Longby mystery_indian_Trader2
Reqeust for Coders Community to Develope XIRR code.Hello, everyone! I noticed that there’s currently no Extended Internal Rate of Return (XIRR) code available in Pine Script on TradingView. If anyone is interested, please create it! It would be a valuable tool for analyzing investments. Thanks!by Am_ContentCreator_1
Reliance Very important zone.price can retest the zone and bounce back. 29/10/2024 news:India has overtaken Saudi Arabia to become Europe’s largest supplier of refined fuels, with imports expected to exceed 360,000 barrels per day amid new sanctions on Russian oil. Longby the_zoom1111
Reliance Industries Ltd. ### Analysis: 1. **Current Price and Support Level**: The stock is trading around ₹1,334, which appears close to a recent support level near ₹1,322. The stock has shown signs of consolidation at this level. 2. **Resistance Level**: The chart indicates a resistance level around ₹1,503, marking the next significant hurdle. This is where the stock previously faced selling pressure. 3. **Moving Average**: The stock price is below the 44-day Simple Moving Average (SMA) of ₹1,435, suggesting a bearish sentiment in the short term. A move above this SMA could signal a potential reversal. ### Recommendation: - **Buy Opportunity**: If the stock sustains above the ₹1,322 support level, it could be a good buying opportunity for a target of ₹1,503, providing a potential gain of approximately 13.6%. - **Stop-Loss**: Place a stop-loss below ₹1,300 to manage risk in case the stock breaks the support. - **Risk-Reward Ratio**: The chart suggests a favorable risk-reward ratio if the stock bounces from the current level. **Disclaimer**: This recommendation is based on technical analysis and current market conditions. It's important to consider your risk tolerance and conduct additional research or consult a financial advisor before making investment decisions.Longby mywork0724
RELIANCE : Reliance Industries Ltd. Weekly Technical Analysis 50 SMA Support Zone The stock is currently testing support at the 50-period Simple Moving Average (SMA) on the weekly chart, a critical level that has provided support in previous corrections. This SMA often acts as a strong dynamic support, and a bounce from this area could indicate a potential upward movement. Golden Participation Zone The price is situated in the Golden Zone (113%-127% of the last swing correction), a Fibonacci-based support area where reversals are likely. This is often seen as a strong entry zone, with a high probability of an upside movement if support holds. Projected Path and Resistance Areas If the stock rebounds from the current levels, the First Resistance Area is marked between ₹3,121.95 - ₹3,181.15. Breaking through this zone would be a positive signal, potentially leading to further upside. Target Zone The next target zone lies between ₹3,292.15 - ₹3,372.45, aligning with the upper Fibonacci levels. This area could be the next resistance where traders might look to book profits or monitor for breakout confirmation. Bullish Potential The projected price path suggests a bullish movement if support at the golden zone and 50 SMA hold, indicating a reversal pattern. A strong bounce from these levels would strengthen the likelihood of a rally towards the target zone.Longby LiveTradingBox10
Reliance down trend !!Reliance trending down once completed its impulse move. Shortby adarshsolanki0073
Reliance BuyBuy Reliance and hold it till March 2025. These 4-5 months return in Reliance will be equal to or more than the returns of average mutual fund returns. It is the best period to buy the company as it is almost 17% down from its lifetime high. Please do your own analysis before investing. Hope you learned something new from my ideas. Do like, share and follow me. thank you!Longby ronak161253