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3 Aug 2008

Indian stock:Reliance Industries update for week

1. Reliance Industries has a strong support at the level of RS 2079 and same need to be kept under observation.

2. Since stocck has been able to withstand above 2079 level, thus stock has a fair3chance of touching RS 2450 levels. If stock is able to cross 2501 level than the stock can be termed as entering into bullish zone.

3. As a strategy one can hold long position in Reliance Industries till level of Rs 2049 is not breached.


4. However a warning is that charts indicate that medium term trend for stock is down and thus one must avoid going long in stock aggresively and must exit at given levels.
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