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24 Aug 2008

Assesment for Reliance Equity in short term

1. Reliance is experiencing resistance at the levels of Rs 2451 and 2551. A firm closing is required above this level else stock is likely to move in a band of Rs 2400 and on the lower side can fall till 2000 levels.



2. Stock enjoys support at Rs 2149 and 2099 and one can buy this stock for short term duration only if it starts trading above the level of Rs 2251. Reliance equity will face resistance at Rs 2301-237—2401 levels.

3. The equity near term short trend appears to be down.

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