Reliance Infrastructure (RI) Rs.1131/- seems to have just given an upward momentum and it appears that the mometum might sustain. Over the period of last two months RI has taken support at 200 day EMA atleast three times indicated by blue arrows. All the three times it briefrly moved below the 200 day EMA and just bounced back. In the current situation it has formed three white candles after taking support at the 200 day EMA. So all this pointing towards a good upward movement in the stock. There is convergence of the MAs 15,50,100,200 and the stock has moved above those in the last one week indicating that more upsides are not ruled out. if it is able to move past 1200 then i have no doubt that it would move near the 1400 target. so trade accordingly. Even the DMI which shows the strength of the move is above 20 at 22 but movind down once it starts to move up the stock would rocket.Stop Loss can be safely put at 200 day EMA Rs.1053/-
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