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24 May 2009

Indian Stock Market Technical Analysis | Reliance | 25-29 May


1. Reliance is a surprise and a big mover and thus Reliance has been able to reach the levels of Rs 2,490. However stock has to remain above the levels of Rs 2,384 to have an uptrend. However short term trend for the stock is down.

2. One must keep an eye on the level of Rs 2,384 because if this level is not breached than the stock can fall to the levels of Rs 1,700-Rs 1,500 in medium-term. One has to exercise caution while trading in this stock and can have Rs 2079 as stop loss and must keep the levels of Rs 2,255 and Rs 2,355 under watch as it can act as a resistance.

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