Reliance Second Doji FormationReliance has formed second Doji today. Still not able to clearly depict the movement. Same is the case with Nifty.
Look out for breakout either side for targets of either 2200 or 1600.
Relianceindustries
Reliance Doji Formation - Ready to Breakout - 2200 Vs 1600Reliance has been correcting continuously after the rumours of health issues of Mukesh Ambani. The undercurrent however was rationalisation and consolidation after a solid upmove.
The news flow stopped and whatever was due was bad news regarding Future Retail deal. Perfect time to enforce correction. Anyways reliance has had its share of limelight and next stories could only be regarding increase in tariffs contributing to bottomline.
Technicals show the support line which was well respected yesterday and today reliance formed a Doji in the backdrop of CCI approval.
Remains to be seen in which direction it takes breakout of this Doji however levels are going to be 1600 on lower side and 2200 on upper side.
While 1600 would represent a great long term buy, closing above 2200 would mean fast further upmove to show new all time highs.
All in all good buying opportunity with 300 points Stoploss.
trend analysis 2020 bullish trend was rising inside a parallel channel but it had breakout that channel and making correction to bullish trend
correction wave are five impulsive wave which are ready to rest resistance which are at 50% fib retracement of trend.
Reliance Buy I will buy Reliance at current price or 1845 and hold it for 2002 with stop loss of 1800
RELIANCE 1440?RELIANCE broke 200 day linear regression slop(major trend) and correcting now in WXY wave down
20 day LRS(DOWN) gives the direction of the stock movement until Jan 4th 2021 Target 1440(61.8% of previous up move)
RELIANCE 1620As wave A completed as per my previous post (1820),RELIANCE supported @1835 and bounced for wave B .Next wave to emerge as wave C
which will drag this stock to 1620 and that will be BEST to buy on 28/31th DEC 2020
RELIANCE -Key levels Hello Everyone! I am expecting more downside from reliance . And key levels to watch is 1800 -1600. Once it breaks trendline , can give more downside move . SO stay cautious and be ready to accumulate
Reliance IndustriesThe pull back seems incomplete
Buylimit @1869 s/l 1835 tp 1960 would be a better bid
Good trading
Noufal Mandalil
LONG RIGD (Reliance Industries)Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
Reliance Target +2100RSI At the lowest level you can see on the chart and according to my experience I can say 2100 price will hit very soon...So invest and hold for a few days...Best of luck.
Reliance Industries - Down Fall on 2nd Nov 2020 Reliance Industries - Down Fall on 2nd Nov 2020
Reliance has been down on 2nd Nov and looks as per technical chart - it can find support at 1800 Level - which can be a good Entry Point as well
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
Possibilities ready for buy at every deep.NSE:RELIANCE
Possibilities ready for buy at every deep.
Investment Pick.
Disclaimer: I am not a SEBI register person please contact your financial advisor for advice
Reliance getting ready to zoomA good volume is there in the cash segment of reliance.
On the technical side - RSI is showing good support to this volume.
1980-2000 is good support. Reliance is weak only below 1980 on a closing basis only.
It is a good point to go long with stop loss below support.
Reliance can go up todayReliance formed a double top pattern in daily basis, as well it is in demand zone now, buy it above 2285 and sell it below 2260
Reliance Industries - Is it the peak? Will I get stuck on top?"Market Structure"
Investors won't get stuck from medium to long term perspective even if they enter RIL from here.
There could be a small correction in short to very short term but that should be seen as an opportunity to enter in.
Reliance- Some more consolidation expected around 2210-2250Reliance has been taking support from the long term trend line as depicted in the chart. Short term trend has formed a Head and shoulders pattern which indicates reversal of uptrend. If support is strong then expect the price to hover around 2210-2250 for a few sessions. Long-only above 2280.
