rel infra has broken long term trend on monthly chart also it has break last three month inside candle buy @ 567 sl 515 close tgt 635 enjoy
Potential bearish bat formation in Relinfra with PRZ between 610-620.
The stock is in uptrend so one consider buying it on retracement. Currently it is at .618 Fib level of last swing and made Bullish engulfing. One can buy it at this level with SL just low of this bar.
End of November I analysed and found Relinfra had good potential as investment. Support was at 450 - 460. Targets were 500 and 550. Target 1 achieved within 20 days, then price action again took support and now moving towards target 2. As Govt has more infra related projects, Relinfra has good potential as investment.
It is been observed that the price action has reached down at lowest levels at around 300 last year. And now, it is trending up in a channel, making new higher highs and higher lows, indicating a further move up. It is a good investment as Budget season coming around and it is believed that this budget will support and boost infrastructure. It might accumulate...
Bearish Engulfinf Bar took place on 13/01/2017 it can be retraced to 0.50 lvls at 478 then 0.618 lvls at 469 from its top lvls of around 515 SL Above 510 on closing basis
It is obsereved that the Relinfra is facing major Resistance in the range of 505-510. One can go short between 503-505. Regards & Thanks
RelInfra is having strong resistance at 509 - 511 zone. Yesterday's high is 509.7. It is in my watch list. Will update target, stoploss, entry in comment seeing price action.
Relinfra breaks trendline in 60 min chart. Buy = 489 - 491 Sl = 494 Target 1 = 475 Target 2 = 470
as we can bearish kicker signal and dark cloud cover near the overbought condition and price below 8 ema
Relinfra is giving a long breakout above the level 460.70, Above it can go to the level 465.30/468.40/474.50 if do not break 455.70 on downside.
Bullish Cypher on daily charts one can Long it with 12% target upside...SL below PZR
We have been watching this D leg. Now its near channel support. Looks like a valid reversal from the potential reversal zone. If today's low is not blown we have bullish crab activated on Relinfra.
We are in the D leg of a Harmonic setup in Relinfra. This can be a bit risky trade as the channel support is at distance. So kindly pick 1.618 (533-535) as support zone for bullish move. If taken out it can travel to next fib level. So wait for some reversal signal before initiating the trade.
Probably market will become stable from Wednesday. Rel infra looking good as price is getting rejected at lower level moved up quiet a bit. Above 587 it can reach the top of the channel.