RNAVAL trade ideas
Is Reliance Naval under Sea... Bottom Fishing?My Disclaimer -
I am neither professional nor a registered analyst with SEBI or any other body, I read price and time charts for my own study and may or may not take any position on any of them.
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Rnaval04.01.2018 RNaval 1 hour Chart formed Ascending Broadening wedge.
1. RNaval will fill lower gap from 58.60 to 55.75
2. If breakout Bottom Slope will fall down further to target 54, 49.70
3.If Not Break bottom slope Rnaval will bullback & raise again to the target of 63.30,72
RNAVAL, Bull Trap or Breakout? Monday/Tuesday Lots of speculation of Anil Ambani getting Defense Contracts manufacturing and timing cudn't be better with Israel PM visiting India for $500 Million defense deal. RNaval can be biggest beneficiary if they share joint manufacturing. Watch out for breakout if any such news breaks!
RELIANCE_DEFENCE Triangle BrekoutRNAVAL has been moving in a triangle for a while. Bouncing in a narrow range as its approaching the end. Awaiting a breakout or reversal from two blue zones on either side
