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26 Jul 2009

Day Trading Tips BSE NSE ~ Reliance ~ 27-31 July

Reliance has strong resistance near Rs 2,071 levels and if this level is not broken than as a net result stock can decline to the levels of Rs 1,860 or Rs 1,718 in the near-term. Thus one needs to see if its first quarter earnings declared late Friday, can lead to a rally to Rs 2,125 and Rs 2,200 levels.

Please keep in mind that if stock is not able to move past the level of Rs 2,200; thereafter stock can fall to the level of Rs 1,530 in the medium-term. Thus close above 2201 holds the key for the stock.

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