RELIANCE AnalysisReasons to Trade: 1.Trendline Breakout
2.Above 200EMA
3. Above 0.5 Fib-Level
Upside Target: 2534-2554
RELIN trade ideas
RELIANCE INDUSTRIES LTD Up trend India's Reliance Industries Ltd (RELIANCE), operator of the world's biggest refining complex, may avoid buying Russian fuels for its plants following Western sanctions on Moscow over its invasion of Ukraine, a senior company official said.
"Even if we can source some of the feeds (from Russia), probably we will be out of it because of the sanctions," Rajesh Rawat, senior vice president and business head cracker, told an industry event on Wednesday.
Reliance buys Urals crude and straight run fuel oil for its refineries from Russia. The private refiner mostly buys its petrochemical feedstock from the Middle East and the United States.
Sanctions on Russia have prompted many companies and countries to shun its oil, depressing Russian crude to record discount levels.
Rawat said in India most of the oil supplies from Russia are going to the state-run companies.
"So probably, those feed streams will still continue, or may have a lesser impact compared to the private sector players. Because we deal with banks, and also even if we can source some of the feeds (from Russia), probably we will be out of it because of the sanctions," Rawat told the Asia Refining and Petrochemical Summit.
Reliance might be in the zone from where it go/grow stronger Reliance is trying to come out of the squeezing triangle and is making the case for fresh entry above 2503 closing. The medium term target will be 2597 and the long term target will be 2700+. Reliance is a buy on dip and bounce candidate and also a Portfolio stock being India’s one of the premier companies. However for trading purpose if someone wants to keep a stop loss they should keep it at closing below 2175. Reliance is into Oil and Gas, Retail, telecom, Green energy and textile all together. Scope of value unlocking in the share is huge owing to the diversity of segments the company caters to. By all means the stock has potential to become a long term asset creator. One down side of the stock is that it trades at a expensive valuations of 29.1 currently. For Paper trading. Educational view only.
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Buy Reliance it gives good trend line breakout
Volume also looks good
It bounces from lower line channel
So our target will be upper line of channel
RELIANCE LONGReliance crossing 2400.
One more hurdle in the stock 2450. Once this breaks, we can again expect it to give a good move till 2750 levels.
Trade safe. Manage risk. Be profitable.
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Disclaimer :- This is just my view. Please analyze charts yourself and then decide to take any trades.
Is it a good idea to buy RELIANCE now ? Good morning,
Today there is an intersection of many strong indicators:
1)there is a bull divergence confirmed by MACD😎
2) we are above the VWAP❤
3) the 4EMA indicator is in the right order and well condensed👌
4) we are protected by support😎
👀 I didn't really study the profit so protected yourself from market reverses!!
Good luck 💖
Quasimodo Double Cheeters PatternQuasimodo Double Cheeters Pattern Formed in Reliance
wait whenever price comes in range and see the reaction....
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AMARA RAJA PRICE ACTION ON HIGHER TIMEFRAME // WEEKLYaasfdg hgfhf hhggj jjj gjjjj gdssgdg ddgdgg dfgg xfgfg xffbbb
RELIANCE AnalysisInverted Head and Shoulder Pattern
CMP: 2399.15
Upside Targets: 2420, 2434, 2454
I will only be trading Reliance for a bullish move if it succeeds to break the resistance zone
RELIANCE INDS RECOMONDATIONHello guys, a great opportunity to invest for the long and medium term, we have had a bullish trend for years and it is still going on, there is a great opportunity to buy because the price respecting the trend line, a great opportunity to make a profit in this market
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Reliance Breakout RetestThe stock has broken out and retested, therefore may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below the support zone & the lower trendline. The target is placed near resistance.
Reliance industries very nice buy setupVery nice running flat forming in reliance for upside guys, there is also sharp move for entry on daily time frame. look for correction of the wave for entry.
Thanks.
Reliance Now Rejected AreaReliance 5% Down possible from 2373 it will come around 2250
if break out below 2250 expect more negative
Reliance Best Zones For #Bottomfishing Best Buy Zone: 1832 - 2020
Good Buy Zone: 2020 - 2250
Add on bounce, not while it is falling.
Long Term Portfolio Stock.
Tracking Quantity can be taken at CMP. (Tracking Quantity : Suppose you want to Invest Rs.X in a particular stock. The amount between Rs.X/5 or Rs.X/10 would be tracking quantity) (‘Tracking Quantity’ of a stock in your portfolio will help you keep a track of the stock if it is coming in the indicated buying zones.)(Sometimes Out of sight goes out of mind so buying tracking quantity of stocks that you want to add in future helps.)
RELIANCE - Bullish view on relianceThe stock has crested a good base at the level range of 2240 levels.
As you can see the stock has taken support around this area and moved upwards.
It reached a high of 2751 levels before crumbling to huge selling pressures.
The stock is trying to make its way back to the top.
I have presented my views on the chart with levels that can help you take your trades.
Thanks & Regards,
If you feel you can make use of my views and put them to good use, request you to kindly revert with feedback/suggestion/improvement
Reliance at good Support regionReliance has shown strong support at 2250 levels.
Chart also shows potential double bottom patten building on chart.
Good risk reward structure on chart.
