RELIN trade ideas
RELIANCE as discussed on Big move to Lifetime HighsNSE:RELIANCE is going Up as discussed, today's move brings it very close to lifetime highs.
RELIANCE manages to move NIFTY up quite a bit today. If RELIANCE could give a fresh breakout anytime this week or next, its time to initiate fresh longs on this counter for MEDIUM to LONG TERM.
Relaince for swing tradingReliance Industries reached near its 52 weeks’ high today, forming a bullish engulfing candle, This Stock can be used for swing trading in coming days. Tomorrow if it crosses today’s high and able to sustain (hourly candle) or forms a positive price action (minimum 15-minute time frame), a bullish trade can be initiated. In that case buy price will be above 2800, and stop loss will be at 2755. It should face resistance at 2868 level which will be the first target, followed by 2996 and 3113.
Only a study, not any advice of trading
#Relaince
RELIANCE can create new Lifetime very soon ?NSE:RELIANCE Reliance Inds. Stock is made a huge upward move last week with close to 64m volume, such huge volume was last a year back in June last year.
This clearly shows big player entering into the stock and also rising crude prices can help RIL earn good profits.
From Weekly charts you can see, NSE:RELIANCE being trading between two trendlines and its almost about to touch the upper trendline which would create new fresh lifetime highs for the stock.
June bucket update: RELIANCEWave b has formed itself into a ZIGZAG correction. We will have wave C now. Stock can be shorted NOW. All the best.
Reliance possible retracement upto 2670-2650 levelsPossible retracement upto 2670-2650 levels before it go for next target of 3000 in 1-2 months
4hr TF Bank Nifty showing good price actionHope You understand and trade on your chart .
Right now, it is on resistance area we see a breakdown may be for another dump in the market.
Reliance IndustriesReliance is looking good opportunity for a short term swing. Broke the previous resistance and sustained above it. Might get a pull back 2600-2650. Fresh long could be build for the month of July.
Reliance resistance and suppot reliance level for May 31 to 9 June 2022, reliance is level 2670 t0 2688
Reliance industrieswait for support.
you may take one dip on both horizontal and trend line support.
RELIANCE INDUSTRIESNON-LOG CHART: Weekly TF
Perfect 3 drive pattern with a inner TL break, signifying volatility, however target is downside towards 2250 to 2270
reliance brearishreliance just break the structure in daily tf
thereafter yesterday test the supply zone and reject with volumes
which confirm the trend
therefore the ultimate target is the next zemand zone which is lower than its fair value
and june is the last month of first quarter
which also affected by the earning forcast
RelianceReliance, Trend line and Symmetrical triangle formed. when its break go to that Buy or sell.
RelianceReliance
Weekly timeframe
Currently in a uptrend
Current Price - 2587
Green line in the below is the support Level - 2562.55
Green line above is the Resistance - 2613.93
Targets
If the resistance level is broken we can see target of 2803
If Support level is broken we can see target of 2316
Happy Trading
Reliance IndsThe market made stong break out and already make a pull back so i expect a sell in average term
RIL at make breakbig range 2200-2400 if holds current week lows then possible to retest 2510-2540
choppy range , investors can accumulate on dips .. difficult time for traders
RelianceHello and welcome to this analysis on RELIANCE INDUSTRIES
On April 29, 2022 it completed the formation of a Bearish Harmonic Alt Shark Pattern indicating a reversal in the daily time frame.
Currently it has completed 50% of that retracement and formed a Bullish Harmonic Alt Shark in the Hourly time frame suggesting a probable bounce from here.
A pullback of this Bullish Harmonic Pattern could probably take it to 2600-2650. Pattern will remain valid till price is above 2435.
Harmonic Patterns are based on Patterns which come inline with specific ratios for reversal trade set ups.
Buy relianceBullish shark harmonics pattern has formed in reliance. It can retrace to 0.38%-0.50% of point CD.
