RELIANCE INDUSTRIES LTD short dayThe stock of Reliance Industries is currently exhibiting a clear bearish tone. Price action continues to show weakness, with repeated failed attempts to recover, signaling that sellers remain in control.
The ongoing downward movement suggests a lack of confidence from market participants, with no strong catalysts visible to shift momentum. Selling pressure dominates, while any bounce attempts struggle to hold.
Unless there's a visible change in price behavior or a shift in sentiment, the overall outlook remains negative. Caution is advised, and buyers may want to wait for clearer signs of stability before considering entry.
RELIANCE trade ideas
Reliance Industries : Already recovered 100 from the support Reliance Industries : Already recovered 100 from the level of 1110 in this week .
Since 2014 it has remained above Supertrend which shows the strength of the script.
It touched 1110 on Oct 2023 and now in April 2025 and recovered in no time.
Next level to watch for is @ 1300
( Not a Buy / Sell Recommendation
Do your own due diligence ,Market is subject to risks, This is my own view and for learning only .)
Reliance Industries โ Key Weekly Chart Setup | Strong SupportReliance Industries โ Key Weekly Chart Setup | Strong Support Zone & Rebound Potential ๐
Ticker: RELIANCE (NSE)
Timeframe: Weekly
Current Price: โน1,299.50
Technical Indicators: 200W MA, Fibonacci Retracement, MACD Divergence
๐ Technical Analysis Insight:
Reliance Industries is currently hovering around its 200-week moving average (MA) (~โน1,220โโน1,225 zone), which has historically acted as a strong long-term support. This confluence with the 61.8% Fibonacci retracement from the previous rally (โน1,608.55 to โน1,121.55) makes this zone crucial.
Support Zone: โน1,220โโน1,225
Immediate Resistance: โน1,362โโน1,380 (near 38.2% retracement & 50W MA)
MACD: Showing bullish crossover on the weekly, along with a positive divergence โ signaling potential trend reversal.
๐ If broader markets continue in a rebound phase, Reliance could rally up to 20% in a relatively short span. Targets could be โน1,460 (23.6% retracement) and โน1,600 (previous swing high).
๐ Risk Management Note:
Keep an eye on volume confirmation. A weekly close below โน1,200 could invalidate the bullish setup and warrant re-evaluation.
Reliance Industries Ltd view for Intraday 23rd April #RELIANCEReliance Industries Ltd view for Intraday 23rd April #RELIANCE
Resistance 1280 Watching above 1285 for upside movement...
Support area 1250 Below 1270 ignoring upside momentum for intraday
Watching below 1245 for downside movement...
Above 1270 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
How to Use the TradingView Search Bar Efficiently 01. Introduction to the TradingView Search Bar
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Pro Tip: The TradingView Search Bar supports symbol auto-suggestions with exchange suffixes (like .NS for NSE stocks), making it ultra-fast for Indian markets too.
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Opening the symbol search bar in TradingView is incredibly intuitive โ and can be done in multiple ways depending on how fast you want to move.
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Shortcut Key:
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The TradingView Symbol Search bar supports intelligent filters, shortcuts, and exchange-based syntax to save time and improve accuracy. Mastering these tricks will allow you to switch charts and find instruments faster than ever.
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TIME TO SHOW RELIANCE ON RELIANCE - JUST DO NOT MISS THISEverything is pretty much explained in the picture itself.
I am Abhishek Srivastava | SEBI-Certified Research and Equity Derivative Analyst from Delhi with 4+ years of experience.
I focus on simplifying equity markets through technical analysis. On Trading View, I share easy-to-understand insights to help traders and investors make better decisions.
Kindly check my older shared stock results on my profile to make a firm decision to invest in this.
Kindly dm for further assistance it is for free just for this stock.
Thank you and invest wisely.
RIL S/R Support 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.
MA Ribbon (EMA 20, EMA 50, EMA 100, EMA 200) :
Above EMA: If the stock price is above the EMA, it suggests a potential uptrend or bullish momentum.
Below EMA: If the stock price is below the 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.
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.
Reliance Industries๐ Reliance Industries Breakout Alert โ โน1241 Key Level Breached ๐
Reliance Industries has successfully broken out above a strong resistance zone near โน1241, indicating a potential bullish move ahead. This level acted as a critical supply zone in the past, and the breakout with volume confirmation adds strength to the trend.
๐ Technical Highlights:
Breakout Level: โน1241
Volume: Above average (confirming strength)
Trend: Bullish
Next Resistance Zones: โน1265 / โน1290
Support Zones: โน1220 / โน1200 (previous resistance now acting as support)
Reliance short term analysis :โข Looking at the weekly chart for Reliance, the Stochastic Oscillator (Stoch) is indicating potential strength as it hovers near the oversold zone.
โข This suggests that the stock might be nearing a potential buying opportunity from a long-term perspective.
โข However, it's crucial to consider the daily chart for a more short-term view. On the daily chart is trading close to the overbought zone, which implies that the stock might be overextended in the short term and due for a price correction.
โข This divergence in signals between the weekly and daily charts suggests the possibility of a short-selling opportunity in Reliance.
Reliance Breakout?๐ Reliance Industries Breakout Alert โ โน1241 Key Level Breached ๐
Reliance Industries has successfully broken out above a strong resistance zone near โน1241, indicating a potential bullish move ahead. This level acted as a critical supply zone in the past, and the breakout with volume confirmation adds strength to the trend.
๐ T echnical Highlights:
Breakout Level: โน1241
Volume: Above average (confirming strength)
Trend: Bullish
Next Resistance Zones: โน1265 / โน1290
Support Zones: โน1220 / โน1200 (previous resistance now acting as support)
Reliance Industries: Case of Ending DiagonalTheory:
DIAGONAL:
Diagonal are the motive waves like an impulse wave, but diagonals are different from impulse wave in that they do follow the first two Sutras (rules of impulse wave) for wave analysis, but it does not follow the third one i.e. Wave 4 should not intervene the territory of the wave 1. In a diagonal wave 4 always enters into the price territory of the wave 1.
Properties Of Diagonals:
Diagonals can be contracting or expanding type being expanding diagonal a rare one.
In contracting type, wave 3 is shorter than wave 1, wave 5 is shorter than wave 3, and wave 4 is shorter than wave 2.
In expanding type, wave 3 is longer than wave 1, wave 5 is longer than wave 3, and wave 4 is longer than wave 2.
Types Of Diagonals:
LEADING DIAGONAL
ENDING DIAGONAL
LEADING DIAGONAL: In a leading diagonal , waves 1,3, and 5 are all impulsive in nature or all in corrective form of zigzags. Wave 2 and wave 4 are always present in a zigzag form. A leading diagonal suggests the starting of a new wave & that is why it can develop wave 1 of a impulse wave and a first wave of a zigzag pattern.
ENDING DIAGONAL : This is the most common diagonal that can be found out at the ending of a main trend or main correction. It consists of all the waves 1-2-3-4-5 in a single or multiple zigzags. They can be found placed at 5th wave of an impulse wave or can been seen as a wave โCโ of a corrective waves zigzags or flat.
After the termination of the diagonal , a swift & a sharp reversal takes place which bring the prices back to the level from where the diagonal has began. (generally it retrace back to the wave-2 of the diagonal structure)
TRADING PLAN:
Stock is likely to hold above 1156 on any weakness and recover towards 1290-1300 in the coming days and weeks ahead.
RELIANCE : Completing correction, ready to bounce back๐ Trading Opportunity: Reliance Industries Ltd. (NSE: RELIANCE) -
โฑ๏ธ Timeframe: 1 Day (1D)
๐ฐ Current Price: โน1,175.60
๐ฏ Swing Target Zone: โน1,374 - โน1,565 ๐
๐ก๏ธ Support Level: โน1,182.10
๐ Stop Loss: โน1,159.00 (Day Close Below) ๐
๐ Wave Analysis:
๐ The chart indicates a completed corrective wave (primary) 5 on the daily chart. This suggests a potential end to the downtrend and the start of an upward move.
๐ We observe a corrective wave (A), followed by a potential reversal at (B), and a completed intermediate correction wave 5.
๐ฅ The breakout at point (2) signals the start of wave (C), aiming for the swing target zone of โน1,374-โน1,565. ๐ฏ
๐ช Current support near โน1,182.10.
โ ๏ธ Daily close below โน1,159.00 invalidates the wave count and the setup. โ
๐ Strategy:
โ
Entry: Enter near current market prices (around โน1,175.60). ๐
๐ Risk Management: Set stop loss at โน1,159.00 (daily close) to limit downside. ๐
๐ธ Exit: Aim for profits within the swing target zone of โน1,374-โน1,565, aligning with the wave (C) target. ๐
#Trading ๐ #StockMarket ๐ฐ #RELIANCE ๐ญ #TechnicalAnalysis ๐ง #Investing ๐ผ #ElliottWave
โ ๏ธ Disclaimer: I am not a financial adviser; please consult one. Don't share information that can identify you. โ ๏ธ
Above 1200 Reliance can move upward otherwise it will be bearishYt - chartpatern - YT - @chartpatern
As of March 4, 2025, Reliance Industries Ltd. (RIL) shares closed at โน1,161.70, reflecting a 0.80% decrease from the previous day. This positions the stock approximately 27.80% below its 52-week high of โน1,608.95, achieved on July 8, 2024.
Your observation that RIL's stock may exhibit bullish behavior above โน1,200 and bearish tendencies below this threshold aligns with recent performance. The stock's current price is marginally below this pivotal level, suggesting potential bearish momentum.
Analyst sentiment remains optimistic, with a consensus rating of 'Buy' and a median price target of โน1,559, indicating a potential upside of approximately 24.38% from current levels.
In summary, while RIL's stock is trading below the โน1,200 mark, indicating possible bearish trends, the prevailing analyst outlook suggests confidence in the company's long-term performance.