You can see the Monthly charts of "Reliance Power" compared against "Reliance Infra". I am not calling them "Twins" just because its from same "Reliance Group" But I was flabbergasted to see the Exact Chart Structure - from Similar Timelines. Channel Breakdown - Recovery - Trading inside the Channel and now finally Breakout of Multiyear channel. Amazing Duo -...
There is an Ascending Triangle Pattern formed on a weekly chart of Reliance Infra. There has been a shakeout, due to news flows of Russia-Ukraine news, but the pattern still remains intact. Caution : There is an overhead supply above 135, so do keep this in mind.
RELINFRA - BUY Technical analysis (Long term trend) High risk & reward ratio 1:3 If it goes down, will reach up to Rs.65 (Fib 61% level)
Reliance Infrastructure........... Multi month breakout............. Green dashed line make or break level. Monthly close below 96.55 kindly exit your cash positions......... Profit booking levels marked.......... Happy Trading..........
On weekly chart price is making structural high need to hold structural higher low also.
Long or Short on given levels with trailing stops. Levels are mentioned on chart.