Reliance Trend AnalysisBulls will be entering at 200 MA area as its falling at Golden Ratio and there is also an intersection of two trendlines as confluence.
It will be a good opportunity for the ones who missed previous rally.
This is just my view and it doesn't mean any kind of trade recommendation.
Always consult your Financial Advisor before any kind of trading or investment activity.
Namaste.
RELIANCE
Reliance Multiple support/resistance on hourlyReliance hourly has seen multiple support and resistance at 1960 levels. Break of this can give a quick short opportunity for 30-40 points. Reversals from this point can be a good look out point to build long for small upside. Over all good if breaks out of the range.
Reliance SHOW is over NOW time to get out of MOVIE THEATERHi Friends,
Reliance had a very good bull run, but this mov(i)e seems to be over.
So, my view is, if Reliance can not able to close above 2170 level on daily closing basis, then its bull run is finished.
If you want to go short keep stoploss of 2170 level.
Your humble trader,
KIRAN
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Disclaimer: THESE IDEAS ARE EDUCATIONAL PURPOSE ONLY, I AM NOT REGISTERED FINANCIAL ADVISOR. DO YOUR OWN DUE DILIGENCE.
RELIANCE LONGGO LONG IN RELIANCE INDUSTRIES LTD.
WAVE 4 IS COMPLETED CONSIDERING A=C NEAR 2106. IF IT GIVES FURTHER CORRECTION MAY TOUCH TO 1982 WHICH IS 1.618 OF WAVE A. BUT IT SEEMS UNLIKELY AS WE CAN CLEARLY SEE 5 WAVES DOWN IN LEG C OF ABC CORRECTION IN WAVE 4. PROJECTION OF WAVE 5 IS AROUND 3048