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RELIANCE INDUSTRIES LTD

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RELIANCE IMPORTANT INTRADAY LEVELS FOR THE MONTH OF AUGUSTNSE:RELIANCE NSE:NIFTY MAJOR STOCK DISCLAIMER: Do not consider this analysis as an Investment or Financial advise.This analysis is made for educational purpose. Reliance is bullish in the higher timeframe like Weekly / Monthly but still we have seen some profit booking in the past sessions due to which we have seen some bearish movements in the smaller timeframe. So keeping that in mind, I have marked all the probable bullish levels as well as bearish levels so that we have an edge over both sides. Although it seems difficult for Reliance to make any major moves this month and we might see travelling it in a range. But if during the month we see Reliance travelling above 2nd long target or the 2nd short target then volatile moves might be seen. Since Reliance is a favourite stock of Trader as well as heavy stock of Nifty 50 , I have taken due care to mark these levels. But do remember all these marking are based on probable calculations and at any point of time can be proven wrong. A wise Trader always take risks with stoploss and Book profit at / near the Profit booking area. I will keep updating this idea throughout the month, or i will drop some important levels in the MINDS section, so do subscribe to get yourself notified about the important updates as soon as possible.
NSE:RELIANCELong
by prachitv1
RELIANCE: Can get you GREAT RETURNS!RELIANCE INDUSTRIES is the King of the Indian Stock Market and everyone knows about what role Reliance plays in India. RELIANCE Stock has been in a consolidation since more than 2 years and is now trying to Breakout. Let us first know about its Basic Fundamentals. Profits are rising every year which is the most important point. Balance Sheet is growing year on year. Reserves are more than Borrowings. FIIs & DIIs have increased stakes in June Quarter. Fundamental Score is 7/9 Why Fundamentals? It is always safe to trade in Fundamentally good stock. Now Next, Let us look on the Nifty Chart: Nifty has corrected for 4% from high and meanwhile Reliance was consolidating at the top, preparing for a Breakout. Nifty's fall did not affect Reliance, and Reliance was quiet for some days. But now Nifty has tested its support and we can see a positive hammer candle at the support. This can be a positive news for some days as Nifty can retrace upside. Now, Reliance is part of NIFTY ENERGY Sector and weighs 57% in NIFTY ENERGY. Let us see NIFTY ENERGY SECTOR Chart: NIFTY ENERGY Sector chart has given a Flag and Pole Breakout in Weekly Timeframe which shows that Energy Sector can be bullish for few months. It has taken support of 0.382 level of Fibonacci, which is a great support. As we can see, Nifty and Nifty Energy Sector can be bullish for few weeks here on, we can find the stock that is also bullish and is a candidate of Breakout. And so we find RELIANCE. Overall Reliance was consolidating from long, and now is trying to give breakout. It has made a good Box Breakout type of pattern and making a simple price action near the breakout level, which means it is gaining some energy to blast off. In past few weeks, Nifty corrected about 4%, but reliance did not show any weakness, which is another reason to select Reliance. Some weeks ago, it gave a breakdown of the trendline but it was a fake move and now reliance has moved up, taking the StopLosses of all those who made a short position on the basis of trendline Breakdown. Track Reliance in near term, as after breakout we can see a good upside possible. Our First Target will be 2900! Keep Reliance in your Watchlist!
NSE:RELIANCELong
by NikunjBangad
Reliance Head and Shoulder Pattern Hourly ChartHead and Shoulders Pattern: This is a popular chart pattern in technical analysis that can indicate a potential trend reversal. It consists of three peaks: a higher peak (head) between two lower peaks (shoulders). It suggests that the stock's price might change direction from an upward trend to a downward one. Left Shoulder, Head, and Right Shoulder: These refer to the three peaks in the pattern. The left shoulder has a high of 2543, the head has a high of 2630, and the right shoulder has a high of 2559. The head is the highest point among the three. Breakdown Target: In a head and shoulders pattern, analysts often measure the potential downward movement after the pattern completes. The "height of the head" is the vertical distance from the head's high to the neckline (more on this in the next point). In this case, the height of the head is 2630-2473=2316. Neckline: The neckline is a support level that connects the lowest points of the two troughs between the peaks (shoulders) in the pattern. In this case, it seems like the neckline is at a value of Rs. 2473. Breakdown of the Neckline: A significant event occurs when the stock's price breaks below the neckline. This is seen as a confirmation of the pattern and a potential signal for a trend reversal. In this scenario, if Reliance's stock price drops below Rs. 2473 (the neckline), it suggests a potential further decline in price. Downside Target: The "156 point downside in reliance" refers to the expected price movement if the breakdown occurs. It's calculated by taking the "height of the head" (difference between head high and neckline) and subtracting it from the neckline value. So, 2630 - 2473 = 156. In summary, the analysis suggests that if Reliance's stock price breaks below the neckline value of Rs. 2473, there could be a potential downward movement of 156 points in the stock, based on the head and shoulders pattern on the hourly time frame. This type of analysis is used by traders and investors to make informed decisions about buying or selling stocks. The information provided here is for educational and informational purposes only. It does not constitute financial advice, and I am not a financial advisor. Disclaimer: Trading stocks and making investment decisions involves inherent risks, and you should always conduct thorough research and consider seeking advice from qualified professionals before making any financial decisions. The analysis presented, including the target price calculation, is based on technical patterns and historical data, which may not accurately predict future price movements. The actual performance of stocks can vary widely from any analysis or prediction. Always exercise caution and due diligence when making investment choices. Thank you.
NSE:RELIANCEShort
by imkhushal
2
NIFTY 50 TREND ANALYSISThe options data indicates 19,500 is likely to be the key support for the index in coming sessions, while the hurdle is at 19,600-19,700, experts said The index opened positive at 19,577 and traded higher in the 19,620-19,525 range during the day. It settled at 19,597, up 80 points, and formed a small-bodied bullish candlestick with minor upper and lower shadows on the daily charts even as it made higher highs and higher lows. It also decisively closed above the 20-day exponential moving average (EMA) placed at 19,547. The index needs close above 19,700, which also coincides with the downward-sloping resistance trendline adjoining the previous three swing highs from July 20, the day the index touched a record high. If it sustains above 19,700, it can move towards 19,800-19,900, while support is at 19,500-19,300. "Technically, key indices lacked assertive moves and stayed in a mere range throughout the day, which portrays a lack of conviction among the market participants on either side. However, the overall trend seems upbeat," Osho Krishan, senior analyst, technical & derivative research, Angel One, said. You May Like
NSE:RELIANCE
by RDaru
IMPORTANT INTRADAY LEVELS FOR THE WEEK.NSE:RELIANCE NSE:RELIANCE1! BSE:RELIANCE Disclaimer:All the mentioned view and analysis is NOT an Investment or any kind for financial advice. These levels are just for educational purpose. Reliance is struggling to cross the resistance level that I have shared in my previous idea. I have tried to plot all the possible important intraday levels covering both Bullish as well as Bearish moves. Every Target will also be considered as a Crucial profit booking area. Club these levels with your existing View / Analysis or your Trading strategy for gaining more advantage.
NSE:RELIANCE
by prachitv1
1
Traders' Inverse Relationship with Breakouts⚡Retail traders often find themselves entangled in false breakouts or breakdowns. However, it's important to recognize that taking advantage of breakout opportunities isn't inherently flawed. The key lies in being mindful of the associated risks and never trading beyond what is considered an acceptable level of risk. By doing so, traders can protect themselves from unnecessary losses and navigate the market more wisely. ⚡Another crucial aspect of successful trading is planning for potential failures. While the solution seems simple – cutting losses and exiting the trade – it's essential to define what constitutes failure beforehand. Identifying these conditions before entering a trade allows traders to establish clear criteria for when it's time to step back and avoid further losses. ⚡To increase their chances of success with breakout trades, traders can consider adopting a strategy of trading pullbacks after a breakout has occurred. Typically, stocks pull back to retest their breakout levels, presenting attractive trading opportunities. While this approach can mitigate some failures, it's important to acknowledge that no trading strategy is foolproof. There may be instances where traders miss out on certain opportunities due to a lack of pullbacks, leading to feelings of "Fear of Missing Out" (FOMO). Remember, trading involves inherent uncertainties, and no strategy guarantees a 100% success rate. ⚡Lastly, traders should keep in mind that support levels offer potential buying opportunities, while resistance levels indicate potential selling opportunities. Being attentive to these key levels can assist traders in making informed decisions and improving their overall trading performance. Regards Do hit boost 🚀 for motivation.
NSE:RELIANCEEducation
by Bravetotrade
2
Reliance - The Demerger Effect• The highly anticipated demerger of Jio Financial Services Limited is currently underway, and on 20th July 2023, Reliance shares finally went Ex-JFSL. • According to brokers' estimates, the per share price of JFSL was expected to be around 190. However, the market-derived valuation has exceeded expectations, reaching 261.85. This indicates that people have high hopes for Jio's performance in the near future, especially with its integration into other Reliance ventures. • The listing of JFSL on the exchanges will take some time, and trading will only become available after its listing. • During this interim period, the price movement of Reliance will be intriguing as it has returned to the 2 year old zone. What do you expect from Reliance now? Will it take the sideways pathway or catch momentum with the JFSL Hype? Have Insights or Questions? Let us know in the comments below.👇 While you do that, how about a boost for some motivation🚀 ⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
NSE:RELIANCE
by TheChartereds