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29 Nov 2009

Free share tips for Indians | Hot Stock Tip | Reliance | 30 Nov-04 Dec


Reliance is now trading at post bonus rates. Resistance for the stock exists at the level of Rs 1100 and in case the stock is not able to move above this price than the stock is likely to see a range bound movement between Rs 900-1100 levels. It is most likely going to see support at te levels of Rs 1,008-Rs 980.

However if the level of Rs 900 is broken on the lower side than the stock can fall to the levels of Rs 859-759 in a few months time frame.

Presently share is showing a downward trend and thus the stock can face resistance at the level of Rs 1,075-Rs 1,113 in the week ahead. Inability to move past the first resistance will mean that the stock can decline to in the days ahead.


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