pasantechnicals
Long

Reliance Communication (RCOM)- a strong buy

NSE:RCOM   RELIANCE COMM LTD
Stock has broken out of the Flag Pattern , it took support at the
ichomoku cloud, future cloud is also positive.

Today's flag breakout was with high volumes, which confirms the pattern

The rally which started from 19th December after the long term downtrend
breakout from Rs12 to Rs 37, has retraced by 50% and the stock has moved
upwards from 50% retracement .

The stock has also taken support at Multiple moving averages.

it can move upto 50 levels (the length of the Flag pole

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