Reliance Infra:575. symmetrical triangle,on breakout,Target 820.
RelianceInfra:575 is trading in a symmetrical triangle, currently near the apex and about to have break out from its upper TL. Resistance 820 support 496.
Caution: A contradictory view is that, it has formed a Descending triangle from 2009 (a Descending triangles form in downtrends and are characterized by a series of lower highs but the Flat Bottoms & they have a definite bearish bias), But in this case it is having an upward breakout. My point is that, this opposing pattern formations may neutralize the move,and it can lead to a side way market.
Caution: A contradictory view is that, it has formed a Descending triangle from 2009 (a Descending triangles form in downtrends and are characterized by a series of lower highs but the Flat Bottoms & they have a definite bearish bias), But in this case it is having an upward breakout. My point is that, this opposing pattern formations may neutralize the move,and it can lead to a side way market.
Nota
546 will be a safe SL
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.