Here is Reliance daily and weekly support and resistance and RSI trend.
BUY CALL FOR RELIANCE HELLO, TRADER I WOULD RECOMMEND TO BUY RELIND AT CMP AS IT'S GIVING A BULLISH TREND FOR SHORT TERM... AS MA50 IS GOING TO SHOW BULLISH TREND ALSO SOME INDICATORS NSE:RELIANCE AO, SUPERTREND & MACD IS ALSO GIVING BULLISH TREND. WE ASSUME A TARGET OF 20% PROFIT THANKYOU
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Reliance is a good buy in the dips around the support region, in the last few trading sessions, we have seen huge selloffs and profit booking but the price has been making higher lows since the last couple trading sessions. It's on the road to recovery but will find it challenging to break the resistance which has formed over the last 3-4 months of trading. We...
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Reliance after forming three Doji in last five trading sessions of November remains locked inside the marabozu candles levels. RSI about to breakdown below 40 No longs to be initiated before closing above 1985 Lower levels are open as soon as the support line is broken on closing basis.
Reliance has again crossed 9DEMA and closed just below it. A short term play could be: Long on closing above 1985 (21DEMA) with Stoploss at 1935 (Support Line). Target 2047 (Fibo Retracement Levels)
Finally Reliance cleared it's direction after three Dojis towards down side by breaking all three Doji lows of 1920 in intrady and RSI is now below 40 again. It's all set to test recent low of 1835 on Tuesday itself and then next two are fibo Retracement levels of: 61.8% - 1795 50% - 1680 Excellent buying opportunity below 1680 once RSI starts the Support sign.
#Reliance formed a third Doji in last four days of Trade. There is strong clash between bulls and bears within the range of 1980 to 1920. With expiry keeping things unclear, the #December series can see sharp moves in either direction once this range is broken on closing basis either side. Ultimate targets remain the same - 1600 on lower side and 2200 on upper...
Reliance 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.
I will buy Reliance at current price or 1845 and hold it for 2002 with stop loss of 1800
A 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 TECHNICAL ANALYSIS FOR INTRADAY AND UPCOMING WEEK
Reliance Industries formed Deep Crab Pattern on Daily chart. Those whose missed the bus, do not hurry to buy the stock at the current price , considering the resistance suggested by the pattern. Let the stock settle for some time , will update buy levels , when gets some hints from price action.
Intraday Cash Buy RELIANCE @2110.00-2111.10 SL 2091 TGT 2160 1. Above VWAP 2. TK cross over 3. Pivot break out 2092 next resistance is 2184 4. ichomoku cloud break out 5. MACD cross over
NSE:RELIANCE bounced from the lower support trend line of bullish channel. It also completed corrective abc wave. Now it may go ahead for a wave 5.
Reliance has given a Break out from a Combined Pattern of Flag and Triangle. Which is nicely supported by Volumes as well.