Can RIIL Deliver a New Upmove After Its Double-Bottom Formation?
About RIIL's Current Technical Structure
Reliance Industrial Infrastructure Limited continues to attract trader attention after forming a double-bottom pattern, a formation often associated with potential trend reversals.
Despite remaining inside a broader falling trend channel, recent technical signals suggest that buying interest has started to emerge around key support levels.
The next few trading sessions could become important in determining whether the stock can successfully transition from recovery mode into a fresh uptrend.
Key Technical Highlights
🔹 Double-bottom formation visible.
🔹 Critical support near ₹750.
🔹 Breakout trigger around ₹761.
🔹 Technical objective near ₹780.
🔹 Positive volume balance observed.
🔹 Medium-term outlook improving.
Active traders may also monitor Nifty Option Swing for additional market opportunities.
Important Trading Levels
| Parameter | Level |
|---|---|
| Support | ₹750 |
| Breakout Zone | ₹761 |
| Potential Objective | ₹780+ |
Investor Takeaway: Derivative Pro & Nifty Expert Gulshan Khera, CFP® believes RIIL's double-bottom formation deserves attention. Confirmation above the breakout level could improve the technical outlook significantly. Read free content at Indian-Share-Tips.com, which is a SEBI Registered Advisory Services.
SEBI Disclaimer: The information provided in this post is for informational purposes only and should not be construed as investment advice. Readers must perform their own due diligence and consult a registered investment advisor before making any investment decisions.
