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20 Jan 2008

Reliance Update

1. The down trend has started in Reliance with reliance plummeting by 7% on last Friday.

2. However all long term investors must exit if relaince breaks 2649 levels as beyond that it has a target of 2488.

3. Resistance for the stock exists in current scenario at 2973,3084. In case stock is not able to cross 3000 mark for next 3 days it will indicate that bearishness will prevail in stock.

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