NSE:RELIANCE Observations: 1) On 15min Time frame, it is trading in downward channel. Please refer Chart below: 15 time frame. 2) On 1 Hour Time Frame, it is now back to its neckline after giving breakout of inverse head and shoulder. As per theory it should now test this neckline and give bullish move upside. ...
Disclaimer.. not an investing/trading recommendation. NSE:RELIANCE
∘ Keep eyes on Reliance Symmetrical triangle Pattern ∘ 50 - 200 Ema Resistance over here
Reliance Industry seems to have a breakout from a triangle pattern, so give an entry with appropriate Stop loss only after its breakout 🔴DISCLAIMER ***** Its just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ****** Aggressive traders enter at the breakout and conservative traders may give entry...
Price action analysis
Increase in Oil prices coupled with the breakout on the chart is a good confluence. Retest has been done nicely. Reliance was holding up the market on last trading session. Can expect this to continue for a few more trading sessions (2-3 trading sessions) Use Halftrend for trailing stoploss. NSE:RELIANCE
Reliance Industries Limited. Head and shoulder Chart pattern
Reliance in moving in a channel since, Nov 2016 & now near lower channel line Above 50 EMA facing support near 1900 -1800 (support zone) With a SL of 1890 on weekly close basis. We can set a target 1 of 2321 Target 2 - 2707 (Trailing SL) Target 3 - 3249 (Trailing SL)
follow stoploss 1.55 target 3 rupees invest at your own risk
Note: This is for educational purpose only and do not trade in F&O. There seems to be a hammer at previous support zone which also coincides with 200 moving average. There seems to be a convergence in price and momentum (RSI). SL: 1825₹
on the 4 hour timeframe it has broken a trend line which acted as resistance and also observed the last kiss. So expect a UP move from here. NOTE : Its totally my analysis and do not take it as trading advice.
*Study is based on Futures Reliance has managed to crossover the trendline in daily charts today. What we have to watch is if it manages to hold because if it does, we might see a bull rally which will take the prices above 2000 levels. Aggressive or risky traders can buy once RSI manages to cross 50 levels in Intraday charts with a stop loss of 1950.
I hope you can now see how Reliance represents an excellent low risk profit entry setup allowing you to trade in the market. Take positions so that the risk/reward is in your favor. Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis . Thank You Disclaimer: It should not be...
Reliance 30 minutes chart analysis simple pattern see RSI your chart probability up
Reliance is looking positive after completion of a corrective wave at 1855. Now breaking above wedge line will leads to given targets in coming days. wait for breakout above upper wedge line OR if closes above 2000. - Wait for breakout - Closing below lower wedge line will be SL.
Note: This is for educational purpose only. There seems to be a bounce back from support on 1 hour - 4 hour timeframe with increase in volume.
I hope you can now see how Reliance represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor. Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis . Thank You Disclaimer: It should not be...
Note: This is for educational purpose only. Do not trade in F&O based on this analysis. 21 EMA has acted as a dynamic support previously. There seems to be a bullish bounce from 21 EMA again. Moreover, there seems to be a bullish trendline breakout in RSI as well. RSI above 60 indicates bullish momentum.
Find us at the office
Exel- Frazzitta street no. 61, 44925 Kingston, Norfolk Island
Give us a ring
+23 274 947 142
Mon - Fri, 10:00-21:00