Technical Analysis of Indian Equities by Nooresh

Reliance ADAG stocks breaking out – Reliance Capital, Reliance Infra, Reliance Power , Reliance Communications

Few days back had put a tweet on how Reliance and Reliance ADAG stocks are seeing action and is this an indication of top or momentum ?

Well the move has been followed up by a short term breakout in ADAG though yet to see a tick above 1040 on Reliance to confirm a short term breakout.

Disclosure - Reliance Capital , Reliance Infra and Reliance Power have been recommended to clients of QuickGains and Technical Traders Club . So we are biased. Please read the disclaimer . Do your own research and risk management.

We have seen a short term breakout and there is a near term top in all the cases. If we do see follow up beyond those prices will imply a much bigger trend change.

Reliance Power -- Can it follow up this breakout

Reliance Power

Reliance Infra - Breakout today and up 5% ... Will it follow up beyond 620-630

Reliance Infra

 

Reliance Communications - 45-48 is an all time low and multi year low support as well as for last few months. Base is good but can it follow up ?

Reliance Communications

Reliance Capital - Personally think this is the best bet in the group.

Good breakout and can see some resistance at 460-480. Can it go beyond that.

Reliance Capital

 

 

 

 

 

 

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Securities covered above::  Reliance Capital, Reliance Power, Reliance Infra , Reliance Communications

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Nooresh Merani and his family/associates/ analysts do have exposure in the securities mentioned in the above report/article.

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Article by Nooresh Merani

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