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4 Oct 2009

Indian Stock Market Bluechip Stock for Trading and Investment | Reliance | 05-09 Oct

Reliance Industries is facing a stiff resistance at the levels of Rs 2200 and thus it is showing a weakening of trend and if it fails to surpass this level than the stock can fall to the level of Rs 1,750-Rs 1,675.

Thus as a strategy go long in the stock only when it closes above the level of Rs 2201. Thus for the time being in the short term stock can fall to the levels of Rs 2,116-Rs 2,058 during the coming week. Thus as a strategy one can short this stock below the level of Rs 2115.

High risk investors can be long in this stock till the time the level of Rs 2,050 is not breached on the lower side.

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