📊 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 🐳
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All scripts & content provided by BigBeluga are for informational & educational purposes only.
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Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
🔵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.
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.