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21 Sep 2009

Indian Stock which will drive the Sensex | Reliance Latest Update

Reliance Industries has stiff resistance at the level of Rs 2200 and thus medium-term trend for the stock is negative and thus stock can fall to the levels of Rs 1750-1675 levels in medium term. However short term trend is still positive and will be negated if stock closes below 1949 levels. The support for stocks are 2060-Rs 2045-2007-1978.

The trend will reverse only when stock gives a closing above 2200 on a weekly basis and can stage a run up to the levels of Rs 2069.

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