RIL looks Promising on Charts

[sramidi]

One can accumulate RIL with a SL of 895 and a target of 1400-1500.

Its really looking good on charts, the consolidations and the price patterns formed is adding to the call.

 

[sudoku1]

One can accumulate RIL with a SL of 895 and a target of 1400-1500.

Its really looking good on charts, the consolidations and the price patterns formed is adding to the call.

its not able 2 even go near 1200 for past 365 days !

 

[gsn57iaf]

This has become very handy stock to manipulate Nifty by big players and therefore its likelihood of crossing 1200 seems difficult.

 

[sanjosedesi]

One can accumulate RIL with a SL of 895 and a target of 1400-1500.

Its really looking good on charts, the consolidations and the price patterns formed is adding to the call.

sramidi, can you please describe which technicals and settings take you to this conclusion? also, what timeframe are you talking about to at least make 1200, since others have doubt on whether it can breach 1200?

 

[devadas]

I would beg to differ from the Bullish opinion given for the time being for Reliance.

RIL has made a Shoulder Head shoulder Pattern which is bearish.The target for the pattern is 925 provided it breaks the previous Gap support of 960 on closing basis.RIL may temporarily go for a "pull back" towards 1007 which is the neckline of SHS pattern.But after the pullback it will try to test 925.

Note The Pullback may not happen also & it may directly test 960 & then 925.

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application ofTechnical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.

 

[praveen taneja]

RIL on Daily and Weekly for those who like to see chart

Tgt visible on chart for up and down:thumb:

Daily

Weekly

 

[InvestoMania]

IMO, Reliance is Oversold from 18-April-2011, and now we can see that trend strength is going down and down.
so IMO if it will cross 986(Futures) levels in 1-2 days then again Buying opportunity will come.


Best Regards,
http://www.traderji.com/futures/53550-my-trading-strategies-future.html
_________________________________________________________________
The best trading method is to take advantage of the crowd's greed and fear.
_________________________________________________________________