CodeViser

reliance infrastructure - Where is the bottom?

做空
NSE:RELINFRA   RELIANCE INFRASTRU
Hello everyone

In long term I can see that reliance infrastructure bottom is stil not come. Consider to watch the chart, It make a descending triangle pattern.

What is descending triangle pattern?

Answer :
Descending triangle is a bearish continuation pattern. The pattern is usually observed in a downtrend. There are few instances the pattern is seen during an uptrend acting as a reversal pattern but is considered as a bearish pattern regardless of where it occurs. The descending triangle is also known as right angle triangle because of it shape. The horizontal line acts as a zone of support. It is as if there is heavy buying interest at this level preventing the stock from falling further. It is the lower highs along the declining trend line that signals greater selling pressure and gives the pattern its bearish feature.
The technical target is arrived at by computing the vertical height of the pattern and adding this height to the breakout point. It can also be computed by drawing a line parallel to the base of the triangle through the trough of the first correction.

Telegram : t.me/Codeviser
Website: codeviser.org
Follow us on Twitter: twitter.com/CodeVisers
Our Facebook Page: www.facebook.com/Codevisers
Youtube: www.youtube.com/c/CodeViser
免责声明

这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。