1. Reliance has a key resistance at 2700 and has to cross this level with volumes if the stock has to see the light of 3000 mark. Outlook for the stock is positive and one can say that since 15 Apr,2008 it has been consolidating. Rumour related to banning of products by govt related to reliance and RPL led to unwarranted selling in stock in last week.
2. As a long term trader one can hold the stock with 2449 as the level where one can short sell to see it achieving the target of Rs 2200 on the lower side.
3. As a strategy for investment one can buy time and wait as medium term time frame shows that the stock is in down trend as per technical indicators and thus one can wait and can enter near 2350-2449 levels.
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11 May 2008
Strategy for investment in Best Indian stock:Reliance week ending 16 May
Strategy for investment in Best Indian stock:Reliance week ending 16 May
2008-05-11T12:57:00+05:30
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