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7 Feb 2010

Hot Stock Tip | Indian Tips which Perform | Reliance and SBI | 08-13 Feb

Reliance Industries now faces strong resistance at the level of Rs 1,030 which is its 200 DMA (day moving average) and as a strategy one can be short once it is seen that the stock has failed to cross this level.Thus if the down trend in stock continues than it can fall to the levels of Rs 970 and then Rs 925 Rs 850.

State bank of India is near make or break level as it has halted near its 200 DMA. One can closely watch the level of Rs 1,880 because if this level is broken than it can fall to the levels of Rs 1,696-Rs 1,506.

SBI is going to encounter resistance at Rs 1,960-Rs 2,010. Thus as a strategy one can initiate the short in this stock if it faoils to move above the level of Rs 1960.

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