1. As a fresh strategy a trader can hold Reliance till the time the level of 1899 is not broken as charts indicate a short term positive trend in the stock. One can safely go short if 1899 level is broken as in that scenario the stock will target the levels of Rs 1765-1749-1701 levels.
2. However a word of caution for the stock is that medium term trend for stock remains negative and can thus target the lower levels till 1500 if global situation do not improve.
3. All those long term investors who are emotionally attached to Reliance industries stocks must exit this counter if 1699 level is broken.
28 Sept 2008
Will Reliance hit 1500 levels?
Will Reliance hit 1500 levels?
2008-09-28T14:26:00+05:30
Analyst
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