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RELCAP AND RELINFRA – INTERESTING CHART DEVELOPMENT

RELCAP_1

RELCAP – as per the chart development we can see that stock able to cross small “SYMMETRIC TRIANGLE” in last session and now heading towards the long term resistance level now which is form by one more TRIANGLE on chart.

as per the rsi development we can see that last time rsi given a fall without moving into overbought region, but now it able to cross the resistance range.

as per candlestick it has developed “RISING THREE” pattern on chart.

so overall indication is if now stock able to move and cross above 495 level then will try to hit the 505-15 range which is upper resistance level and above that it will try to catch the 540-50 range level, now down side support is at 470 and 480 levels, so if this levels broken before any up move then only stock wont go for breakout, but if level sustains and if we see green candle on chart then above mention possibility we can expect on a chart.

RELINFRA_1

RELINFRA –  interesting chart to see of relinfra, as it has given a extension of “W” after making a bigger pattern on chart, and its falling into “FALLING CHANNEL” now.

as per current chart we can see that stock has form the bottom level and able to give “BULLISH POSITIVE CONVERGENCE” signal at bottom level, but yes it has to cross the recent resistance level of trend line now.

as per the recent retrenchment we can see that stock having good resistance range between 515-526.

so overall conclusion is stock is able to form bottom at this stage and looking for breakout move now, if able to cross and close or sustain above 526 level in coming sessions then it can go for move to touch the upper resistance level of channel at 570-590 range.

 

 

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