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RELIN trade ideas

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.
NSE:RELIANCELong
by Kartik_Elkunchwar
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
NSE:RELIANCELong
by vichithra
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.
NSE:RELIANCELong
by TheSnop
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
NSE:RELIANCELong
by rajeevmmails
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.
NSE:RELIANCE
by imkhushal
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.
NSE:RELIANCE
by zenthosh
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.
NSE:RELIANCE
by Happy_Candles_Investment
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.
NSE:RELIANCELong
by debjit62
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.
NSE:RELIANCEShort
by YetAnotherTA