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21 Sept 2008

Weekly Indian stock market update for Reliance

1. If Reliance fails to surpass resistances at the levels of Rs 2071 and 2141 than one should be ready to see the stock ready to fall again to the levels of Rs 1,881 and Rs 1,765.

2. As suggested last week Reliance touched a low of Rs 1764 and thereafetr pulled up. Beware of this stock if it breaks 1969 level on the downside as it is a confirmed indication that stock will touch 1950-1900 levels and thus one can go short on the stock.

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