Look at fair price of reliance industry shares to buy

November 1, 2018

Long term reliance industry view for trading

By looking at Weekly chart of reliance industry,we can say that it was a aggresive rally for 7 weeks (approx two months).

Now price is dropping like it blew up exactly with the same momentum.Which is a very common price action trading setup.

See below the weekly chart.

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Now Look at the long transaction period of buyers and sellers in daily chart before it shoot up to the up side.It will give us the failr price where the buyers and selleres were interested to trasact before the more buyers came and price rallied.

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So, it can be said out to be a good level of demand because more transactions happened and buyers won the battle because of more relevent buyers came and spiked throuh out higher and higher prices.

Now where to look at buying?

when price retraces again the particular level of this area where the more transaction happend.To see the more transaction level or the equilibrium price of buyers and sellere, i am levelling the more tailed standard deviation of price with respect to distribution (It’s not hard to choose that particular level).The next chart will show you that level of interest for me.See below chart !!

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Look at the price i have drawn horizontal lines to show up demand zone/area of rs 923-942.

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Note:- Above information is only for education purpose.Don’t treat it like any advice or singnal without going through your analysis.

 

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