📊 Daily Timeframe
On the Daily, #RELIANCE (Reliance Industries Ltd.) is in a clear downtrend. Price had rallied up to its most recent high at ₹1,612.15, then rolled over — first printing an iCHoCH, followed by a major CHoCH, and then a bearish BOS that confirmed the structural shift to the downside.
After that, price pushed up to correct and tapped into the Flip Zone (₹1,309.50 – ₹1,370.75) — and it has now given a clear sell signal with a bearish engulfing daily candle straight from that zone. This keeps the sellers in control, with price now turning toward the sell-side liquidity (SSL) resting below.
The downside liquidity targets are stacked: first ₹1,252.70, and if price breaks that level with momentum, the deeper pool sits all the way down at ₹1,116.60. The bearish thesis stays valid as long as price holds below the Protected High at ₹1,488.75.
⏱️ Entry Approach
With the daily candle already rejecting from the Flip Zone, the bias is for continuation lower. The cleanest management is to let a lower-timeframe pullback offer a fresh lower-high entry, then position short toward the liquidity below — rather than chasing price into the move.
🎯 The Game Plan
📰 Fundamental Backdrop
The technical setup lines up with the broader picture for Indian large-caps. Reliance is India's largest company by market cap and a heavyweight in the Nifty and Sensex, so its direction often colours overall index sentiment — with flows driven by domestic positioning, earnings, and global risk appetite. After an extended distribution phase, a structural breakdown like this one tends to draw fresh attention to the stock, making the current zone a key area to watch as the downtrend attempts to continue.
This analysis will be updated as the market evolves.
If this breakdown added value, drop a like 👍 and a comment 💬 to support the work — and share where you see Reliance heading next!
Best Regards, BigBeluga 🐳
On the Daily, #RELIANCE (Reliance Industries Ltd.) is in a clear downtrend. Price had rallied up to its most recent high at ₹1,612.15, then rolled over — first printing an iCHoCH, followed by a major CHoCH, and then a bearish BOS that confirmed the structural shift to the downside.
After that, price pushed up to correct and tapped into the Flip Zone (₹1,309.50 – ₹1,370.75) — and it has now given a clear sell signal with a bearish engulfing daily candle straight from that zone. This keeps the sellers in control, with price now turning toward the sell-side liquidity (SSL) resting below.
The downside liquidity targets are stacked: first ₹1,252.70, and if price breaks that level with momentum, the deeper pool sits all the way down at ₹1,116.60. The bearish thesis stays valid as long as price holds below the Protected High at ₹1,488.75.
⏱️ Entry Approach
With the daily candle already rejecting from the Flip Zone, the bias is for continuation lower. The cleanest management is to let a lower-timeframe pullback offer a fresh lower-high entry, then position short toward the liquidity below — rather than chasing price into the move.
🎯 The Game Plan
- Daily bias: bearish — iCHoCH → CHoCH → BOS, now rejecting from the Flip Zone (₹1,309.50 – ₹1,370.75).
- Confirmation: a bearish engulfing daily candle from the zone.
- Targets: SSL at ₹1,252.70, then the deeper pool at ₹1,116.60 on a momentum break.
- Invalidation: a reclaim and close back above the Protected High (₹1,488.75).
📰 Fundamental Backdrop
The technical setup lines up with the broader picture for Indian large-caps. Reliance is India's largest company by market cap and a heavyweight in the Nifty and Sensex, so its direction often colours overall index sentiment — with flows driven by domestic positioning, earnings, and global risk appetite. After an extended distribution phase, a structural breakdown like this one tends to draw fresh attention to the stock, making the current zone a key area to watch as the downtrend attempts to continue.
This analysis will be updated as the market evolves.
If this breakdown added value, drop a like 👍 and a comment 💬 to support the work — and share where you see Reliance heading next!
Best Regards, BigBeluga 🐳
🔵Gain access to our powerful tools : bigbeluga.com/tv
🔵Join our free discord for updates : discord.com/invite/FuW63RKgdc
All scripts & content provided by BigBeluga are for informational & educational purposes only.
🔵Join our free discord for updates : discord.com/invite/FuW63RKgdc
All scripts & content provided by BigBeluga are for informational & educational purposes only.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
🔵Gain access to our powerful tools : bigbeluga.com/tv
🔵Join our free discord for updates : discord.com/invite/FuW63RKgdc
All scripts & content provided by BigBeluga are for informational & educational purposes only.
🔵Join our free discord for updates : discord.com/invite/FuW63RKgdc
All scripts & content provided by BigBeluga are for informational & educational purposes only.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.