Its time to change trend on Reliance.It might take more some day to give breakout but higher probability is to short term downtrend will come.
And reliance will give small correction,
SO BE READY TO SAW NEW CHANGES IN MARKET.
THANK YOU FOR YOUR SUPPORT FOR MORE UPDATE FOLLOW AND Like IF you are new to market and wish to learn more you can contact me 7276209528
If you open account from below link you will get my Personalis support for learning and trading.
tinyurl.com
Relianceindustries
RELIANCE IMPORTANT LEVELS
THE LEVELS ARE CALCULATED BY FIBONNACI ANALYSIS.
AS YOU CAN SEE RELIANCE HAS RESPECTED THESE LEVELS IN THE PAST.
THE LONG TERM TARGET IS - 2446.45 THE END OF THE GREEN BOX
BUY NEAR THE IMPORTANT LEVEL OF 2070.70
FOR SHORT TERM TARGETS OF T1- 2136.90 T2- 2280.
NOTE THE PRICE ACTION NEAR THE IMP LEVELS AND TRADE ACCORDINGLY.
IMPORTANT LEVELS: 1977.45 , 2070.70 , 2136.90 , 2280 , 2315 , 2350.
RELIANCE | Continuation
Reliance bounced back on the straong trendline support. I'm expecting it to hold.
MACD Supports the statement.
Pennant forming on the chart. While indicates continuation.
Note that Reliance Industries has a very positive market sentiment despite the covid hit economy. And is currently in price discovery!
Reliance Elliot Wave FormedHi Friends This is my first Idea.
Hope you like it!
Elliot wave formed in the 4h and 1 day time frames
I believe the Stock might fall up to 1980 and it will start its another bull run to 2300-2400
Then there will be a correction waves. Lets see how it goes.
Thank you guys, Will follow up on my Idea.
Have a great day
Reliance industries 148% Return in 4 month.
From march24 2020 to till a date if you observe stock you can see upper and upper rally ,
after Facebook invest @1000 level 9%
its take speed to high
and recent jiomart is making business like earlier JIO mobile DATA plan
SO BE READY TO SAW NEW CHANGES IN MARKET.
THANK YOU FOR YOUR SUPPORT FOR MORE UPDATE FOLLOW AND Like IF you are new to market and wish to learn more you can contact me 7276209528
If you open account from below link you will get my Personalis support for learning and trading.
tinyurl.com
This idea published is purely intended for educational and informative purposes, I urge traders to make their own trading decisions based on their specific trading objectives and financial position.
Reliance Industries View for 20/07/20After a rocky ride post the 43rd AGM of NSE:RELIANCE , we witnessed a very sharp partial recovery. If previous levels are accepted, then RIL could be a good long cadidate as long as the 1880 support level is held.
(not a recommendation; for educational purposes only)
RELIANCE INDUSTRY - bounce back from support - Next level#Reliance is moving under Bullish channel and Very Bullish on Daily/Weekly/Monthly chart. it was falling since two day and after yesterday announcement about subscription amount Rs 43,574 crore from Jaadhu Holdings in Jio platform , stocl took support over trendline and moved UP and touched previous day High and closed below.
Showing Bullish in all Technical Parameter:
CCI in overbought zone
RSI is treading UP
Stoch is treading down from overbought zone
Aggressive New Long position
Stock Outperforming from Benchmark and sectrol index on 1 week and 3 month both
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Support : 1732 (A good level for buying)
Breakdown : 1800
CMP : 1826.75
Breakout : 1840
Short Target : 1874 and 1900
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Positive & Negative Point:
1) Very Bullish in Daily/weekly/Monthly chart.
2) Treading in overbought zone
3) Debt free in two month.
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(Disclaimer: This is only for educational purpose.)