NSE:RELIANCE support and resistance diagram is represented in my chart, if support breaks it will move towards below support level, and if it bounces from support then it will move towards upside resistance level. HAVE THIS STRATEGY IN MIND FOR RELIANCE IT WILL WORK AS RAM BAN FOR INVESTOR/TRADER TOO.
Hourly chart shows mild double top formation at 932 formed on 6th March, little weakness in nifty can drag it down to 925-926 levels. Stop loss should be 938 breaking which would confirm a further upward movement.
Reliance has been trending well in a horizontal range since a long time and the recent correction due to the macro economic monetary policies resulted in a breakout being exhausted and a failed breakout , with NIFTY making a tripple top on hourly charts and other variables looking bullish, A chance to buy reliance again for the breakout of 960 resistance line...
Hi Guys, This chart showing high possibility of drop in reliance indus, whole structure looks big corrective structure. I don't know what will trigger this drop but this is on the cards. after that drop reliance is all the way to upside, giving very good place to invest in this stock for long term option.
Short Term Target - 1040+ Medium Term Target - 1300+ Long Term Target - 1600+
There is a Possibility of 50 % Retracement in Reliance to around 1150 levels, It will also act as a structure test, Some Really Good Selling Patterns are also coming up in daily charts...
Hi Everyone,This is my first idea I will post more regarding indian stocks and some currency pairs, looking at reliance it looks like in corrective phase after highly impulsive move to up side and making abc correction with b in triangle pattern so we are waiting for completion of pattern by breaking this pattern to downside for our c leg and then rally up for...
Reliance on the way from 2008 to till date fell in to the TRIANGLE pattern. Pattern maturity date very close to broke the pattern either side. But as per my wave count reliance going to trigger next bear rally on INDIAN MARKET. November - 2016 play an major role on reliance.
Reliance hadn't participated in the recent rally and today it is rally despite the index being in red. Seeing a breakout here if closes at the current level or could retrace to previous support level of 945 breaking which it can go down till 910-20 level.
Investment Strategy: Reliance Industries has been in a contracting triangle from past 8 years, Break of this Triangle on the upside can be a good indication to buy and hold for long term. Elliott Waves Terms triangle often occurs in wave 4 as complex correction. so we can expect wave 5 to create a new high Target: 1800 Timeframe: yr-2019
This trade setup is very simple one. I didnt use any advanced patterns or numerous fib levels. We can easily notice Reliance is in bearish trend for sometime, so we are looking for opportunity to go along the trend. Recent rise in prices towards our marked resistance zone ( based on Daily ) where we have Fib levels overlapping each other. 0.382 Fib level of...