October 8, 2010

RELIANCE Industries with a Cup and Handle

BULLISH VIEW
BEARISH VIEW
  • Reliance Industries is forming a likely CUP AND HANDLE pattern. with breakout area around 1048 - 1053. Stock should trade above this area.
  • But if one see the second chart the stock is getting resisted below this trend line. So any breakout is possible only if the stock trades above this line.
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1 comment:

  1. niftyOctober 8, 2010 at 9:44 AM

    What is the likely target for this cup and handle pattern, in case RIL breaks out to the upside ?

    Tx for your efforts and help !

    ReplyDelete

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