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9 May 2010

Indian stock Tips which makes Money | Reliance and SBI 10-16 May

Reliance is showing a spinning top candlestick and it shows an indecisive pattern of movement. One should buy Reliance only once if it crosses above the level of Rs 1066 as thereafter share will target the level of Rs 1,100-1,130. Reliance winning the court judgement against RNRL is positive for the stock. However keep an eye on stock if it falls below the level of Rs 1019 and thus it can fall to the levels of 995-966.

State bank of India
SBI is showing a downward trend and same is corroborated by a negative divergence in the daily relative strength index and thus stock can fall to the levels of Rs 2,050 or Rs 1,900. Thus as a strategy one can short the stock, once it falls below the level of 2199 and thereafter stock can target level of Rs 2,150 -Rs 2,100.
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