Thursday, 5 October 2017

KEEP AN EYE ON RELINFRA ON 06 OCT 2017


BUY RELINFRA ABOVE 472 TGT 480/490 SL 460


Primary trend of the RELINFRA  is bullish for now and  After showing correction from the higher level, now stock is trading in short-term recovery phase, it is forming continuation pattern in short-term charts, it is likely to continue the positive movement with the breakout of the pattern at the levels of 475; as the stock is managing to trade above its 22 days moving averages with the RSI of 50, one may expect the targets of 490/500 in the stock if it manages to sustain above the immediate strong support level of 465. 55 & 200 EMA seen as a strong resistance at 494/515. If IOC will give Breakout above 494 then one may expect the targets of 500/510.

DAILY CHART FOR RELINFRA

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