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7 Dec 2008

Tips for trading for bluechip stock: Reliance: 08 Dec - 12 Dec

1. As a strategy for Reliance one can wait for the stock to give a breakout as presently stock is range bound beween Rs 1,050 and Rs 1,200.

2. This Indian stock enjoys support at the level of Rs 999 and if this level is broken than it can fall to the level of Rs 880 or Rs 720.

3. Stock is likely to remain between Rs 950 and Rs 1,500 for a few weeks and thus medium term trend can be stated as Neutral.

4. Do remember to read the report by ICICIdirect for Reliance and make the decision for investment accordingly.

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