Reliance Industries has been in a uptrend for a very long time. The stock has been consolidating at a strong support zone for more than a month and is now broken.
However, its important to confirm support on the broken side of the triangle and then enjoy the LONG ride!
A symmetrical triangle was spotted, however the breakout could pass the 3% closing test and hence no trade.
Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.
NLC India Ltd
NLC India Ltd. is engaged in the mining and exploration of lignite and generation of thermal power in India. The company owns opencast mines and thermal power stations. It supplies power to diverse industries such as electricity boards, cement companies and paint companies, in addition to other...
Double Bottom has been formed on daily charts of Infosys hinting a bullish trend in coming days. Weekly trend is also UP.
But in short term, a bearish divergence is formed which can lead to a small correction/sideways movement in coming days and then it may continue it's long term bullish trend.
Buy is suggested post correction.
Wipro daily chart is showing negative divergences with MACD and Stoch RSI. Today's Close is at 490 which is very near to resistance of 500. Also, possible pullback can be expected considering the today's close just above the boundary of upper Bollinger band.
These 4 reasons indicate the price pullback in next 2 trading days. Prices may test the resistance of 500...