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8 Nov 2009

Reliable update for Reliance to make Money | 09-13 Nov

Though Reliance as a stock has formed bullish white candlestick pattern on the chart; however one has to accept the fact that the trend in the stock is down.

Stock is likely to see stiff resistance at Rs 2001 and final resistance will be at 2200 level. In between resistances are at 2050-2100 level and one need to carefully watch these levels.

One can be happy holding the stock till the time stock do not break the level of 1899 on the lower side as thereafter stock can fall to the levels of Rs 1800-Consider strong support 1800 of this week. As a strategy exit all longs if 1899 level is broken.

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