Suzlon in a triangle about to breakout

Suzlon in a  beautiful triangle pattern. Thanks to ANUJ for bringing it to my notice.

For Suzlon a break out on either way is possible. Suzlon is a well traded stock so it may go with the nifty. If nifty breaks down from the current levels it may break the lower boundary. But remember triangles are known for their FALSE BREAKOUTS.

Reliance Industries trading near resistance

Reliance industries and nifty seems to be in an uptrend. But one look at the daily chart shows a different picture for reliance industries. It is trading near the resistance of a multi month trading range. If it does not break out above 1150 with large volumes it may go down to 1020-1040 during this month and taking nifty down with it.