Reliance Industries, like the NIFTY looks to soar higher.
In order to create a strategy for my friends who currently hold this stock in their portfolio or are looking at buying fresh, here is a quick guide for various support/ resistance levels marked with various years they have been found very useful acting as a point of support/ resistance
While my analysis runs down right from the time the stock is listed, some of thay cant be made visible given the constraint of space and presentation
Do note some lines end up being very useful as they are a constant testing zone.
Point to remember, the more the line is tested as resistance or support levels in the past, more the significance of the breakout and price action thereof and needs to be checked with near term confirmation parameters to confirm the breakout
Currently, Reliance industries is an uptrend and is continuously forming higher highs and higher lows…I will do a detailed analysis on this stock on a later chart with weekly/ monthly charts to have a more hands on look at price movement
Please share a thumbs up if you like what you see and you could also share your comments in the section below
Cheers
In order to create a strategy for my friends who currently hold this stock in their portfolio or are looking at buying fresh, here is a quick guide for various support/ resistance levels marked with various years they have been found very useful acting as a point of support/ resistance
While my analysis runs down right from the time the stock is listed, some of thay cant be made visible given the constraint of space and presentation
Do note some lines end up being very useful as they are a constant testing zone.
Point to remember, the more the line is tested as resistance or support levels in the past, more the significance of the breakout and price action thereof and needs to be checked with near term confirmation parameters to confirm the breakout
Currently, Reliance industries is an uptrend and is continuously forming higher highs and higher lows…I will do a detailed analysis on this stock on a later chart with weekly/ monthly charts to have a more hands on look at price movement
Please share a thumbs up if you like what you see and you could also share your comments in the section below
Cheers
評論:
Support being tested, wait for any breaks/ changes for any positional trades
