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W pattern

Discussion in 'Technical Analysis' started by verenmitter2001, Apr 22, 2014.

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  1. verenmitter2001

    verenmitter2001 Member

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    Hi shabir and all friends,
    Reliance is making a W pattern . Can it be bought at CMP with SL of 940.

    Kindly answer promptly.

    Regards
    Veren
     
    verenmitter2001, Apr 22, 2014
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  2. shwetagnema

    shwetagnema Active Member

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    it broke out yesterday but closed at 967.75 which is lower than it's previous high of 973.9. so it is wait and watch situation for me
     
    shwetagnema, Apr 23, 2014
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  3. shabbir

    shabbir Administrator Staff Member

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    Something is definitely on with this company because it had so much of cash piling up without any fruitful investment and I think something is definitely ON. Yes good breakout.
     
    shabbir, Apr 23, 2014
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  4. hirenrachh

    hirenrachh Member

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    Can buy RIL at cmp?.....friday closed with good volume and bullish engulfing candlestick pattrn....strong support at around 995.....what os yr opinion shabbir? What could be technical target 1060 or 1130? 1060 roi is quit poor....
    Regads
    Hiren
     
    hirenrachh, Jul 5, 2014
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  5. shabbir

    shabbir Administrator Staff Member

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    No because there is no pattern being formed which I am comfortable trading.
     
    shabbir, Jul 5, 2014
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