RIIL - Multiyear - Breakout - Retest - Monthly
Reliance Industrial Infrastructure Limited - RIIL
Here's an analysis of the key points highlighted in the chart: Monthly Chart
16-year high breakout: The stock has broken out of a multi-year consolidation pattern, indicating a significant bullish move.
Multi-year breakout and retest: The price broke above a key resistance level around 1135 INR and then retested this level, confirming it as new support.
Volume analysis: The chart notes "Good volumes while going up and low volume during pull backs." This is a bullish sign, as it indicates strong buying pressure during uptrends and weak selling pressure during corrections.
Price pattern: The stock has formed an upward sloping channel (marked by yellow lines), suggesting a steady uptrend.
Current price action: The stock is trading at 1384.90 INR, up 16.22% with a volume of 5.731M shares.
Historical price range: The chart shows a low of 162.25 INR and a high of 3175.00 INR over the period displayed.
Recent consolidation: After the breakout, the price has been consolidating in a tight range, potentially setting up for another move.
Overall, the chart presents a bullish long-term view of the stock, with the recent breakout and volume characteristics supporting the potential for further upside. However, as with all technical analysis, it's important to combine this with fundamental research and be aware of potential risks.
Here's an analysis of the key points highlighted in the chart: Monthly Chart
16-year high breakout: The stock has broken out of a multi-year consolidation pattern, indicating a significant bullish move.
Multi-year breakout and retest: The price broke above a key resistance level around 1135 INR and then retested this level, confirming it as new support.
Volume analysis: The chart notes "Good volumes while going up and low volume during pull backs." This is a bullish sign, as it indicates strong buying pressure during uptrends and weak selling pressure during corrections.
Price pattern: The stock has formed an upward sloping channel (marked by yellow lines), suggesting a steady uptrend.
Current price action: The stock is trading at 1384.90 INR, up 16.22% with a volume of 5.731M shares.
Historical price range: The chart shows a low of 162.25 INR and a high of 3175.00 INR over the period displayed.
Recent consolidation: After the breakout, the price has been consolidating in a tight range, potentially setting up for another move.
Overall, the chart presents a bullish long-term view of the stock, with the recent breakout and volume characteristics supporting the potential for further upside. However, as with all technical analysis, it's important to combine this with fundamental research and be aware of potential risks.
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