RELIANCE - Re-Test Structure - Swing Trade The analysis is done on Daily TF hence price may take few days to few weeks in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me various platforms for any query or suggestion regarding this stock or Price Action Analysis.
Relianceindustries
Next week Target 17720 ? Weekly Wrap #Nifty50 6th Sept 21 first step of a successful trader is to build a Trade plan & review what he has done.
This is my Trade Journal . (education purpose for all )
Trade plan
Nifty 50 : Trend is Up - Buy on dip ( see video for details )
Jai Hind.
Disclaimer :
This video is only for educational purposes. Please consult your financial advisor before you take any trade
Reliance Reliance has given a fresh breakout with good intensity of volume, one can go long at these levels or in dips with stoploss of 2010, for targets of 2158 to 2620, mentioned on chart.
Key Levels are Mentioned on chart
Breakout with Good intensity of Volume
Macd in daily positive crossover and Uptick and also above zero line
Price touched upper bollinger band
Positive Dmi and adx Ungali setup
Rsi ready to cross near 60
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
Support and resistance levels of RILSupport and resistance level of reliance industries limited - if stocks closes below 2120 on daily chats them there is a possibility of 2050 level. 2050 will act as a decent support. On upper side 2200 and then new LTH is possible if it able to close are 2120 on daily chart.
Disclaimer - this is just for educational propose and not a trading or investment advise