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...
On weekly chart, I observed that the price action is forming a descending triangle, which is a continuation pattern. It is a good time to put this one in our watch list and wait for couple of weeks to see a breakout from this with a high volume .
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.
After today's strong breakout at 420 levels and managing to close above that levels provide us a strong bullish signal on its price action. I believe now the price action will move towards the next resistance levels in next few weeks. It is a good time to enter with the reward risk ratio of 1:3 Target 1: 452 Target 2: 470 SL 1: 400
RELIANCE CAPITAL BREAKOUT EXPECTED TOMO ABV 422 WHAT PATTERN IS THIS COMMENT
I could be wrong here, but something is telling me to go long in RELIANCE. - SL 938 TGT 970
It has been trading at it is all time low where we can see accumulation and high open interest in futures contract. It is a good opportunity to buy this one at current levels with a strict stop loss at 46. RCOM new mergers and up gradation in services will be in news for next few months which will make it in spotlight to all other investors as surely that will...
As per hourly chart, reliance is in impulse Wave 3, it is building up on a diagonal based upward trend which is likely to be broken once the demand will be fulfilled. It is a good intraday opportunity for tomorrow. Risk Reward: 1:3
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...
IT HAS MADE A CLEAR BREAKOUT FROM THE PREVIOUS ON-GOING ASCENDING TREND CHANNEL, WHICH STATES A CHANGE IN TREND. RISK-REWARD: 1:4
Points noted on daily chart, 1. Harmonics 2. Fibonacci Extension 3. Structure - Bearish Formation
AFTER A MORE THAN 28% CORRECTION, THE PRICE IS AT PREVIOUS SUPPORT LEVEL. I EXPECT AN UP MOVE TO TARGET OF 74.60. KEEP SL AT 62.50
Reliance is at upper level of channel and near old Supply area. the trade on long side is not giving good risk to reward ratio. where as short trade may give more points move in price. Levels are marked on chart.
Near supply area and price can move down from here. Trading levels mentioned on chart. Share is trading in the channel.