Reliance Stock Journal | Reliance Stock Entry Levels | Reliance Stock Analysis |

 Reliance Stock Update | Reliance Stock Double Bottom Formation Setup In Process

Reliance Stock is always on the trend. This company fundamentally is very strong no doubt in that. Always doing better and better. We are not surprised when this company announces something big as Mr. Ambani is one of the most promising businesses men in the world. We can always expect good things from the reliance company. The company might face some bad times but overall this will do good because of the management and the fundamentally strong reasons. All these reasons make this company a perfect blue-chip company to hold on to. 

What you will get in this journal are entry points and our view on this stock, You can always come back and check this out anytime to keep yourself updated on this particular stock. The analysis for intraday trades, swing trades, or either holding purposes will be available here so follow this journal to know the angles in this stock, It is always good to know different perspectives on the stocks. 

Date 25/11/2020

You can see the lines in this chart. These lines are indicating two ranges below. The area within the range is the area where the price was stuck for a time. Then after the breakout, we saw a good amount of up move. After that move sellers came into the market. Now we have to see if we are getting any opportunity on the basis of price action. This time frame is 1 day. It is ideal for the long-term view or swing trades. This tells us that we had a breakout in this stock and now the sellers are coming in. We need to look at now if there are any entry points in this stock. Now we shall go in one-time frame lower to understand the strength of sellers. 

This is the 1 hr time frame chart. We have to see the sellers move here and sellers had the strength here. Here it is showing a double bottom Formation. This is a bullish sign, if now a small consolidation is seen here we can take the entry, or if we get to see the rejection of lower price. It will be a signal to take the entry in this stock. Where the current price is, this is the perfect area according to price action to take the entry.  This is a swing trade analysis. 

Check Out the Updated Journal of Nifty 50 Analysis - Click Here