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14 Apr 2008

Reliance Update for week ending 15 Apr-19 Apr

1. Reliance has effectively moved past the resistance of Rs 2,550. Now it appears that upmove will commence in the stock and can be ascribed as the third leg of the up move.


2. Reliance can have targets on the higher side with in a range 2,560- 2,685- 2,890.

3. One has to be careful as the resistance for the stock exists near 2549- 2,649.

4. However one has to be cautious while dealing in the stock as the upmove in the stock will commence depending on the present upmove strength.

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