Reliance IND Infra Ltd. (Cup & Handle)Date- 14th March 2024
Time - 18:41
-As we can see RIIL has formed Cup& Handle Chart Pattern and also trying to retest today on daily basis.
-One more thing I have noticed and applied here is Fixed Range Volume Profile Tool , to identify where exactly the most volume has created. Which was 1000 Rs. in this case.
-If Current price is above POC (Point of Control) red line means, next big supports are near that price. So, if its breakdown from retest point it can go till 1000 Rs or if it revered from rested point then 1st Target will be 2384 Rs . according to Cup & Handle Pattern.
- Also, on smaller Hourly Timeframe is showing Bullish Continues Divergence too.
Riilanalysis
RELIANCE IND INFRA RIIL BREAKOUTReliance Ind Infra {RIIL}
cmp 1100
Buy at cmp or at retest
Any dip upto 1000 is buy
keeping 950 as Weekly Closing Basis Stoploss For--
targets🎯 1150 / 1200 / 1250+++
Above resistance Zone 1070
Attempted trendline breakout
Attempted Cup & Handle pattern too
Fresh Breakout above 1250
Value addition
INVESTMENT PICK
technical trade setup
Regards..
Keshav..
15/10/2023