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1 Jun 2008

Reliance:Indian stock free update for week ending 05 June

1. It is a matter of concern that Reliance has closed below 200-day moving average on Friday and that too coupled with volumes and thus technical indicators are implying that more downside may be in offing. Stock has a strong support at 2339 and thus a bounce back from this level is not ruled out.


2. In case we see the medium term outlook than it has turned negative and if the stock closes below 2339 than further fall will take place in the stock price and thus stock may hit the levels of 2126-2101-1850.

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