RELINFRA | Cup and Handle | Breakout | Good volume | Risky
**Stock:** RELIANCE INFRASTRUCTURE LTD (RELINFRA)
**Chart Type:** Weekly chart
**Pattern:** Cup and Handle formation
✅ **Key Technical Highlights:**
* The stock has formed a classic cup and handle pattern on the weekly timeframe, indicating a potential long-term breakout.
* The breakout level (resistance) is around ₹323.
* Price has successfully broken out above this level, confirming the breakout.
✅ **Measured Target:**
* The measured move suggests a price target of approximately ₹638, implying a near 100% upside from the breakout level.
✅ **Volume Confirmation:**
* A noticeable surge in volume during the breakout phase suggests strong buying interest and validates the breakout.
✅ **Key Support Level:**
* The breakout level at ₹323 now acts as immediate support.
✅ **Overall View:**
* The breakout above ₹323, accompanied by good volume, suggests a high probability of further upside towards the target of ₹638. Traders may consider a risk management plan with stop loss below the breakout level to manage potential reversals.
Risky bet, as it is not a good fundamental company.
