Reliance Industries: Could be great momentum trade!!
Reliance recently raised its mobile tariff. So the stock is in news.
Stock was trading in a range (rectangle pattern, darvas box, accumulation stage.
After the announcement of the tariff hike by the company, its stock price broke out from the range.
This breakout could be the continuation of the uptrend of the stock, and in coming days we have see further rise in the stock price of reliance.
Pattern gets invalidated if it breaks down from the range.
Stock was trading in a range (rectangle pattern, darvas box, accumulation stage.
After the announcement of the tariff hike by the company, its stock price broke out from the range.
This breakout could be the continuation of the uptrend of the stock, and in coming days we have see further rise in the stock price of reliance.
Pattern gets invalidated if it breaks down from the range.
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