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28 Dec 2008

Indian stock Market top shares Update: Reliance | Infosys| 29 Dec- 02 Jan 2009

1. Reliance is showing that it is bearish in the short term and it needs to break past the level of Rs 1410 to commence an up move and target the level of Rs 1500. Rs 1200 is a strong support for the stock and if this level is broken than the stock can head to the levels of Rs 1,130 or Rs 1,105. This stock is likely to remain range bound for few weeks and will be moving a range of Rs 950- Rs 1,500.


2. Infosys charts also suggest a negative trend prevalent in the stock and thus stock in its downward journey can target Rs 1,065- Rs 980. Stock has resistance at Rs 1,164 - Rs 1,204. As a strategy one can short this stock of India with stop loss as Rs 1175. As a strategy one can buy this stock with in a trading range of Rs 950 and Rs 1,100 for long term investment.

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