RELIANCE trade ideas
Reliance Industries (RIL) levels & Strategy for Next Few DaysDear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me or anyone for trading/investment purpose. Focus on learning how to fish, trust your own skills and please do consult your financial advisor before trading.
RIL is trading near major support level. RIL is the biggest heavy weight stock in Nifty. Today Nifty closed in negative -216 points.
Today, RIL alone contributed 50 plus points (nearly 1/4 of the total fall in Nifty).
Is it going to reverse from here ? or
Will RIL continue to slide ? 1. After increase in Windfall Tax 2. Weakness in Crude Oil Prices
Please review & share your comments. as well.
Have a very happy, healthy & profitable day ahead!
Reliance reached near the resistanceFrom the past few attempts we could not see reliance breaking this resistance zone of 2660. Now again it has come to the zone this could lead the downside movement of price , opportunity to short
Reliance rocket above 2670On the daily chart the stock is trading near swing high resistance and breaking above 2670 will make a successful breakout.
Potential target will be till resistance line which is placed near 2720.
Reliance Idea for 24 August, 2022 - TradesetupSince this is the second time Reliance is entering the resistance, it is expected to breach the zone and
We can go long once Reliance crosses 2652. with a 10 rupee stop loss. The short term target is 2672. A Risk/Reward ratio of 2:1.
Relaince~ made Endinging Digonal 2550, 2500 level possibleNSE:RELIANCE
short
CPM~ 2613
Target ~ 2550, 2500
short signal~ ending diagonal..
Long 3rd wave an Fib Extension TargetAs i see here 1st wave an 2nd wave both completed so it time for 3rd wave which provide us maximum target... Let's see.
Reliance Short Term View (AUGUST 2022 Only)Stay Long Above 2613, T1 - 2663, T2 - 2715.55, T3 - 2777.50..... SL 2554
Short Below 2554, T1 - 2499, T2 - 2488, T3 - 2479, T4 - 2432...... SL 2600
Reliance Industery Double Top confirmatiomHI Reliance seems to be moderate bearish.ON hr Chart Reliance is making double top formation but if you do multiple time frame analysis you will find price has taken support above 50 ema therefore you can take trade for moderate bearish view for intraday. and can take entry for long for short term vie.
RELIANCE Buy for intraday tradingRELIANCE Buy for intraday trading if stock and NIFTY was also strong then we will enter in trade...........
reliance industriesso in reliance industries, there's forming a head & shoulder pattern we wait till it crosses the level of 2572 for the downside, then we can expect to short. and we will see a correction in nifty as well.
Reliance - Book ProfitReliance - Profit can be booked at 2600-2620. Fresh Buy on pullback in range of 2490-2520 for long term profits.
Reliance Long Opportunity Looking good for buying if price will comes at entry level.
Trade at your own risk.
RELIANCE 1HRBullish Bat
Price need to follow GREEN TREND LINE and hit Target 1 & 2 , else if Price BREAKS RED TREND LINE is EXIT
POTENTIAL BUY
RELIANCE 15MINBullish Bat
Price need to follow GREEN TREND LINE and hit Target 1 & 2 , else if Price BREAKS RED TREND LINE is EXIT
POTENTIAL BUY
bullish bat pattern at reliance stock perfect bat pattern
b point=0.636
Xa retracement 0.456
bc=2.271
c point is=0.826
