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10 Aug 2008

Hot stock tip for Reliance

1. Indecisiveness is prevailing in stock price movement of Reliance due to formation of a Doji in weekly charts.

2. Stock has to surpass 2310 level which is its 200 DMA to show some strength. Another resisitance enecountered will be 2440.

3. It appears that stock will be moving in a band of 2000-2440 till 2440 level is not breached.

4. Short term trend is indicating positive move in stock and as a strategy for short term traders one can exit stock if it breaks the level of Rs 2,165.

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