RELIANCE | Very Bullish
Reliance Industries has raised more than 100,000 Crore Rupees in the past 6 weeks, significantly reducing their net debt.
- This is a good sign, showing institutional investors' interest and belief in the company.
- Fundamentals aside, technically the price action seems to be breaking out of a Inverse head& Shoulder, along with a cup and handle pattern, Only adding to the bullishness of the stock.
-MACD also is converging to form a bullish crossover on the 4H chart.
- Reliance is a very big player in the Telco sector in one of the most populated countries in the world, showing their profit margin capabilities.
I'm very bullish on this stock in the long term and i expect positive price action to follow up this week.
- This is a good sign, showing institutional investors' interest and belief in the company.
- Fundamentals aside, technically the price action seems to be breaking out of a Inverse head& Shoulder, along with a cup and handle pattern, Only adding to the bullishness of the stock.
-MACD also is converging to form a bullish crossover on the 4H chart.
- Reliance is a very big player in the Telco sector in one of the most populated countries in the world, showing their profit margin capabilities.
I'm very bullish on this stock in the long term and i expect positive price action to follow up this week.
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