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RelianceInd GDS

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RELIN trade ideas

Reliance journey to all time high?Bulls will profit if the trend line breaks, so depend on it. Watch for a crucial breakout to place a long swing trade. Entry into Green energy- Another round of capex may get restarted as the company enters into the green energy business. While the return on new investments will take time to come, in the medium term it may help the company improve its ESG score, which matters a lot to global fund houses hence to overall valuations. The recent acquisition in the clean energy space indicates that the company may be more aggressive than the street expected. The company's annual revenue growth of 47.94% outperformed its 3-year CAGR of 7.29%. (Source: Consolidated Financials) Weekly stochastic crossover appeared on the week ending Feb 17, 2023. An average price gain of 6.86% within 7 weeks of this signal in the last 10 years. Stock gave a 3-year return of 66.29% as compared to Nifty 100 which gave a return of 46.6%. (as of the last trading session) Reliance Industries Ltd.'s share price moved up by 0.42% from its previous close of Rs 2,430.05. Reliance Industries Ltd. stock's last traded price is 2,440.20 -------Source link attached
NSE:RELIANCELong
by RishikeshNaik
Have you heard about the Aroon Indicator? Anybody who’s used momentum oscillators can tell you that they’re useful. Want to understand trends? Momentum oscillator. Looking for trading signals? Momentum oscillator. Ranging or trending? Momentum oscillator. The umbrella of momentum indicators solves most scenarios. Popular examples include RSI, Stochastic Oscillator, and… the Aroon Indicator! Yes, Aroon is not as popular as the others but it does have merits. Meet the Aroon Indicator Security prices hit highs and lows based on various factors. This can lead to new trends, and reversals or the security might simply hit a range and stay there for a while. The Aroon measures both for a given time period using two indicators known as the Aroon Up and Aroon Down, after which it will calculate the strength of the trend. The result will be a number between 0 to 100. The best part - you have the liberty to choose the time period (n). The “n” can thus be 14, 20, or whatever you want it to be. 1. Aroon Up Formula n - Days Since Recent High / n 2. Aroon Down Formula n - Days Since Recent Low / n Notice how there’s a special focus on the time when it comes to Aroon? That’s because Aroon is one of the rare indicators to show you time relative to price. Usually, other oscillators show you the price relative to time. This sets Aroon apart from the rest. Interpreting the Aroon Indicator 1. Values A higher Aroon value indicates stronger trends Aroon Up = 100: new bullish trend Aroon Up = 30 to 70 & Aroon Down = 0 to 30: potential bullish trend Aroon Down = 100: new bearish trend Aroon Down = 30 to 70 & Aroon Up = 0 to 30: potential bearish trend 2. Crossover When the Aroon Up and Aroon Down intersect/crossover, the following may be likely: Aroon Up moves above Aroon Down: potential bullish trend Aroon Up moves below Aroon Down: potential bearish trend No Crossover: price consolidation/ranging But… the Aroon Indicator can generate false trading signals. That’s why it would be wise to use Aroon in conjunction with other indicators. P.S.: Aroon isn’t the only indicator that’s prone to false trading signals. Bollinger Bands too can generate a “headfake”, which we’ve covered in this blog about Bollinger Bands Indicator. Above is an example of how the Aroon indicator looks on the Reliance chart Conclusion Aroon oscillators can be viewed as leading or lagging oscillators, depending on how you look at them. Essentially, the indicator attempts to determine trends just before or during their occurrence. This makes it a potential leading indicator. However, the trading signals that Aroon generates can be late and as a result, it is also a lagging indicator. We hope you find this information useful about the indicators. We usually post about trading and investing on blog.dhan.co (do check this out) Let us know what should we write about next. Until then happy trading! Disclaimer: Recommended stock name is only used as an example.
NSE:RELIANCE
by Dhan
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