Reliance Power Powerful resistance

• 165 area seems to be a big resistance area for reliance power.
• The weekly chart which is the first one shown here is showing an ascending triangle kind of pattern with one false breakout towards the upside.
• And now the stock is approaching the apex of the pattern again. Last two weeks it tried and failed at 165. If Price breakout above 165 being the second attempt out of the ascending triangle, stock may succeed with a legitimate breakout.
• But crossing 165 will be a tough task, If one watches the channel that is developing in daily chart we can get a clue to which side this one is going to breakout.
• INTRADAY CHART FOR RELIANCE POWER