Saturday, September 5, 2009

Ascending triangle in RELIANCE



Ascending triangle in formation in RELIANCE daily charts. One can enter above 2100 for a target of 2500 keeping stoploss at 1920. Decreasing volumes and increasing RSI adds strength to the pattern in formation.

Regards
DJ
Time:

3 comments:

  1. AnonymousSeptember 6, 2009 at 7:14 PM

    Hi DJ,

    Can i please ask you to look at RPL chart and advise next 2-3 month target please i am holding 500 rpl @ 140 dont know what to do. should see or wait? please advise.

    Regards
    Ketan

    ReplyDelete
  2. AnonymousSeptember 6, 2009 at 7:18 PM

    HEY DJ,

    i have just started visiting your blog its very informative. i have powergrid 700 shares at 111.50rs can you please let me know your view on the same should i sell or wait and for how long i should wait? please reply.

    thanks
    kesha

    ReplyDelete
  3. Dhrubojyoti SinhaSeptember 7, 2009 at 6:32 AM

    @ KETAN: RPL is trading in a range between 118-120 at the bottom and 128 at the top. Looks like it'll break out on the upside. So Advise you to hold.

    @ KESHA: Hold POWERGRID for now. A break above 102 will be bullish. Keep a STOPLOSS of 99. Technically, POWERGRID is consolidating within what apparently seems to be a symmetrical triangle. It can breakout within another 2 - 3 weeks at max.

    ReplyDelete

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