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14 Feb 2010

BSE Stock Tip | Grow Rich with Reliance | 15-20 Feb

Reliance has a strong support at the levels of Rs 975 and as a net result stock rebounded from this level last week. Now we need to watch if it can cross the level of 1030 as it is its 200 DMA and if it does than it can target the level of Rs 1056. Traders should close their short positions on a rally above Rs 1,030.

Thus as a strategy exit your shorts if stock moves above the level of 1029. If the level of Rs 970 is broken than it finds support atRs 943-850 and presently a sideways trend is existing in the stock.

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