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11 Oct 2009

Free Indian Stock Market Tip for Reliance | 12- 16 Oct

As you are aware that Reliance has issued bonus shares ; however point to note is that it does not change the fundamentals and thus it could not move past its resistance of Rs 2200 in last week. Thus as a strategy one can be short in the stock as it can fall to the levels of drag the stock down to our medium-term targets of Rs 2,045-1,860-1,750-Rs 1,675 in medium term.

Only saviour of this stock is its closing above 2200 level with volume where by it can target the levels of Rs 2499.

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