Reliance has been in consolidation for a long time, 2200-2350 has been a strong demand zone. It looks like this support level is weakening. DMI also indicates a bearish outlook. A breakdown from the level of 2200, the downside will pick up the pace. Will wait till then.
I won't call this a typical divergence, but a stock making tripple bottom at one level and reversing possibility is very very high.
Reliance/INR Chart Analysis :- Based on the chart analysis, Reliance is currently trading at ₹2322 and has broken the support level. This could lead to a big down move in the coming months, but there may be good buying opportunities for the long term around ₹1500-₹1600. The 0.50 Fib Retracement level is at ₹1584, which could lead to a strong bounce from that...
The scrip is breaking out from a trendline after forming a double bottom, keep this scrip in radar
Chart is self explanatory. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Formation of Head and shoulder pattern, which indicates a downside. Getting rejected at the resistance and trendline for multiple times. Targets are at the levels of Fibonacci.
Reliance ind get rejected from the trendline resistance and huge fall not bullish until it close above 2450
NSE:RELIANCE One Can Enter Now ! Or Wait for Retest of the Trendline (BO) Or wait for 2377 For better R:R ratio Note : 1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle. 2. Close, should be good and Clean. 3. R:R ratio should be 1 :2 minimum 4. Plan as per your RISK appetite Disclaimer : You are responsible for your Profits...
The scrip is looking negative and it can break its previous support. keep in radar. but keep trailing your SL.
Reliance breakout from the channel. If it can sustain today and tomorrow , we can go long. Though tomorrow is expected to be a down day, so we should wait for it to show us the direction.
While the price is above the support 2306 price is expected to fall as the current support will get broken ❤️ If you find this helpful and want more FREE forecasts in Trading View Be sure to leave a comment; let us know how you see this opportunity and forecast. ❤️ Your support is very much 🙏 appreciated!❤️
There is support zone at 2290 level. This stock is continuosly falling from previous two month now it can give some gain If it hold this level
RELIANCE. Correction cycle towards 1900 level. Below 1850, could extend towards 1650 level. The stock is forming a WXY corrective pattern. The analysis is based on the Elliott Wave Theory.
Investor POV: KING is Ready to Roar !! Mota Bhai getting ready for Bulls Party New ATH + more upside possible.... 3200 is just a number
Reliance chart view as per daily analysis Demand zone area 2300-2350 Next resistance area (hurdle area+key level) 2375-2400
this is the updated view of my last post long zone - 2210:2080 SL: 1850 as looking like its doing 1-2-3-4-5, let me know if anyone wants more info or has any doubts in idea, will be happy to answer all query :)
Just analysis and levels for future reference. Not a prediction.
While Reliance can go higher in the short run, in the longer run, the structure is extremely week. Watch the 20MMA. The last time Reliance closed below is with MACD in sell... Well the chart shows what happened