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12 Mar 2009

Stock info of use for Bears and Bulls for Reliance and SBI | 12 Mar

1. Reliance is enjoying strong resistance at the levels as indicated namely Rs 1170-1195-1229 and thus unless these levels are conquered only than one will see some rally in the stock. If one is short in the stock, than one can remain so with a stop loss as Rs 1250. Market will break if RIL breaks the level of Rs 1118 as one will be seeing enormous selling pressure in the stock.

2. SBI is also seeing strong resistance at the levels of 941-975-1018 and thus as a trading strategy one can be short in the stock till the time the level of Rs 1031 is not breached on the upper side and thus should be used as a stop loss. One can go further short if the level of Rs 911 is broken on the down side.

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