RELIANCE
Reliance Industries - Deep CrabReliance Industries formed Deep Crab Pattern on Daily chart.
Those whose missed the bus, do not hurry to buy the stock at the current price , considering the resistance suggested by the pattern.
Let the stock settle for some time , will update buy levels , when gets some hints from price action.
BUY CALL ON RELIANCE-CONSOLIDATING FROM LAST FEW DAYS
-SMALL CANDLES LAST WEEK REPRESENTING NOT MUCH SELLING PRESSURE
-BULLISH HAMMER CANDLE APPEARED TODAY AFTER DOWNWARD MOVEMENT
-TOOK SUPPORT AT 21 EMA LINE
-CLOSING PRICE ABOVE VWAP AFTER 4 DAYS
TARGET : 2200
STOP LOSS : 2065
RELIANCE - BREAKOUT Hello Everyone! Reliance is forming flag pattern and simultaneously forming bullish pennant . So above 2200 you can go long and can expect 10% return . Stoploss -2150
Thankyou and plz share your views
reliance for breakout :see all my publications, if it seems to give both knowledge and profit then like, subscribe and refer to your friends.
Reliance Poll and Flag Breakout for swing tradingWhy this trade?
Technical Data:
1. Reliance was holding 2040-2050 very strongly despite of large move in the last few months. Also in the market of uncertainty.
2. We saw one way rally from 1611 to the 2198.90 when it breaks ATH of 21st January.
3. The most interesting thing is consolidation on higher levels for 30 trading sessions ( over 42 days ) and it never close below 2000 in this period. This is clearly showing strength.
Fundamental/News :
1. Recent acquisition of future group & silver lake's as first investor in the Reliance retail shows mostly all strategic investment announcement most likely to done in upcoming days.
2. Valuation of R-Retail is really very good & could be the larger than RJIO.
Thought Process:
Many was thinking to buy below 2000 or at 1800 levels after big run. Similarly one could think to buy at 2200 level when it will move to 2600. No one can predict up/down move of stock. Basic thing when investor like Silverlake investing at current valuation then it may have probability to get multi fold returns in upcoming years. Usually private equity funds interested larger returns. They avoid to play for less marginal returns. So in short, current valuation is not really overrated as everyone is talking.
Targets/Stoploss:
Time frame : Next 18-22 trading sessions ( Analyzing )
Entry: Above 2170 on closing basis
Target: 2595 ( Decide using poll-flag pattern. )
Stoploss: 2040-2050 ( Current swing low )
RR: 3.15
RELIANCE looks bullishCurrently RELIANCE got stuck in a SIDEWAYS TREND.
BREAKOUT Levels for Long Position: 2150 (For RISKY Traders)
Long above 2200-2210 Levels (B POINT) (For SAFE Traders)
Target: 2320-2350
SL : 2130
Pattern Invalid if Price goes below 1990 (C POINT)
Trade with Proper Risk Management.
Victory is beyond fear!!
Disclaimer: I am not a SEBI Registered Analyst. Please take position after consulting your advisor.
Reliance - Pole and Flag patternReliance Industries has a possible Pole and Flag pattern.
A decisive breakout above 2200 can activate the target of roughly 2600
Live Intraday Trading - Hit and Run TradeWhat is hit and run trade ?
1.Got very good partials when it was trading at high's.
2.It hit my target , I took my partials .
3.Stock went back to it's stop loss.
4.If I would have not taken partials at right time , I would have ended in loss.
5.Got out when the stock hit it's stop loss.
LONG RELIANCEReliance has been facing selling pressure from 2150 level successfull crossing of this level will take Reliance to next level - 2200+.
SL can be maintained at 2040 or 2000 .
Enjoy the trend until it bends.
Reliance Industries | Buy Reliance Industries hit lifetime high of ₹2,198.8 in July and since then, it has been moving in a sideways trend. Whatsoever, the stock is still bullish as it continues to trade above ₹2,000. It will most probably rally sooner or later.
Note: The Supreme Court is likely to says its verdict on AGR issue on September 2 and this can impact the stock price. Watch closely.
#BPCL #OIL #BANKNIFTY #NIFTY #NSE #TRADING #COVID19 #RELIANCE#BPCL
Bharat Petroleum Corporation Ltd.
CMP: 413.25
Target: 450 / 503
SL: 402
Reliance - Ready for another up leg - Wave 5NSE:RELIANCE bounced from the lower support trend line of bullish channel. It also completed corrective abc wave. Now it may go ahead for a wave 5.
RELIANCE : 27 AUG 20 :IMPORTANT SUPPORT AND RESISTANCE AREAS. DANCE ACCORDING TO MARKET IDOL.
SEE ALL MY CHARTS IF THEY ARE A KNOWLEDGE SEEKERS OPPORTUNITIES THEN LIKE MY CHARTS BECAUSE THEY ONLY ARE THE MOTIVATION FOR KNOWLEDGE HUNTERS
RELIANCE -- INTRADAY TRADING SETUP FOR 26 AUG 2020 1 THIS IS FOR ONIY EDUCATION
2 WHEN TREND LINE AND HORIZANTAL LINE BREAK TAKE ENTRY
3 TARGET 2002 SL 2100
RELIANCE 30MIN | Expect a short Rise and further FallThe graph has reached a strong demand zone. There are 2 possibilities now :
1. It can break this demand zone and fall further.
2. It can rise up from this demand zone and go up to 2100 -2117 .
Watch and Trade accordingly.
RELIANCE : 24 AUG 20:RECORD HIGH RATES, BE CAUSTIOUS, BEWARE OF BEARS FOR EVERY BULL. MARKET EXPECT TO CORRECT THE STATEMENT BY RBI GOVERNOR ON SATURDAY NIGHT.
MY SINCERE THANKS TO:
TRADING PANTHULU,
ACHARYA DEVO BHAVA.
Reliance 4 hr trend line broken currently it is at demand line for two three
days it may go up and
once triangle break down it may fall deep
