Reliance Infrastructure Limited
RIL gave a breakout for the downward trendline on Friday and after that consolidating again from past 2 days with expansion in volumes.
Consolidation after breakout is good for stock as it gives enough strength from next upmove. As of now stock is in zone of resistances
One Bearish Indicator is Negative Divergene in RSI. We would require the Price confirmation for the same.
Buy above 575 TGt 580,584 and 588
Sell below 570 Tgt 565 and 556
Testing times awaits SAIL as it is nearing its 50 SMA which was its previous breakdown level and Stock is again coming at 50 SMA@144.5 Level.
Sell below 140 Tgt 138.6 and 137
Buy above 144.5 Tgt 146.2 and 148.2
Infosys will come with its results on 12 July the herald for Indian Corporate Scorecard and Last Quater Results were disaster for Stock Chart.
As seen from above Chart Infosys was not able to cover the gap created on 19 April.
Range of 2923 is the immediate swing resistance for the Stock.Positional Long should only be taken on a close above this levels.
Level for Today
Buy above 2877 Tgt 2895,2913 and 2923
Sell below 2843 Tgt 2820 and 2791