Reliance crossed its resistance of 2570 also took support of trndline of 2008 on monthly chart , closed above EMA20 on daily chart, seeking target 2750.
RIL - Reliance Weekly Chart - BO retested & confirmed successfully, may proceed towards target of 2900. (Positional view) Note: This is only for educational purpose, not a recommendation.
If break 2360 level then touch 2860
Expecting 1800--2200 Range for Reliance. -1x 24JUN2021 2000CE - ₹ 51.00 +1x 29JUL2021 2000CE - ₹ 71.15 -1x 24JUN2021 2100CE - ₹ 20.15 +1x 29JUL2021 2100CE - ₹ 40.00 Max. Profit - ₹ +22,808 Max. Loss ₹ -10,000 Max. RR Ratio - 1:2.28 Breakeven - 1863.0-2298.0 Estimated Margin/Premium - ₹ 1,30,000
Refer the reliance chart posted above for more information
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RELIANCE SETUP FOR 23 NOVEMBER 2020RELIANCE SETUP FOR 23 NOVEMBER 2020RELIANCE SETUP FOR 23 NOVEMBER 2020RELIANCE SETUP FOR 23 NOVEMBER 2020RELIANCE SETUP FOR 23 NOVEMBER 2020RELIANCE SETUP FOR 23 NOVEMBER 2020RELIANCE SETUP FOR 23 NOVEMBER 2020RELIANCE SETUP FOR 23 NOVEMBER 2020RELIANCE SETUP FOR 23 NOVEMBER 2020RELIANCE SETUP FOR 23 NOVEMBER 2020RELIANCE SETUP...
RSI in RIL is giving indication to buy however it's likely to cool off bit more.
"Market Structure" Investors won't get stuck from medium to long term perspective even if they enter RIL from here. There could be a small correction in short to very short term but that should be seen as an opportunity to enter in.
Why this trade? Technical Data: 1. Reliance was holding 2040-2050 very strongly despite of large move in the last few months. Also in the market of uncertainty. 2. We saw one way rally from 1611 to the 2198.90 when it breaks ATH of 21st January. 3. The most interesting thing is consolidation on higher levels for 30 trading sessions ( over 42 days ) and it never...
RELIANCE - GO SHORT @ CMP WITH A SL OF 1920 AND A TARGET OF 1600. TARGET SHOULD BE ACHIEVED BY 10 AUGUST
Based on this Chart Reliance is forming a parabolic pattern for a good upward trend, what do you think ? Let's find out in October 2020!!
Reliance Industries has raised more than 100,000 Crore Rupees in the past 6 weeks, significantly reducing their net debt. - This is a good sign, showing institutional investors' interest and belief in the company. - Fundamentals aside, technically the price action seems to be breaking out of a Inverse head& Shoulder, along with a cup and handle pattern, Only...
RIL has completed the 5 legs impulsive structure to the upside and bounced lower from the key resistance area around 1600. Now it's undergoing the short term correction to resume the bullish trend afterward. It may develop 2 possible scenarios for the corrective action: 1. The correction will not be deep enough and could play inside the range for a while to...