1. Reliance Industries has given a breakout and thus the stock is likely to see resistance near Rs 1,325- Rs 1,408 in the short-term. As a strategy one can short this stock if it fails to move above the level of Rs 1326.
2. However one has to be careful near Rs 1200 level from where this stock can bounce back. The medium term trend is neutral and thus stock in the medium term time frame may target the levels of Rs 1,421- Rs 1,563. However stock has to face stiff resistance at the level of Rs 1500. As a long term investor one should get into this stock only when it starts trading above this level.
2. TISCO is presently consolidating and thus if it breaks past he level of RS 240 than it can head to the level of Rs 258- Rs 290. As a strategy one can short the stock if the level of Rs 199 is broken in the stock and can be careful near Rs 180 level from where the stock can bounce back. One can assume that Rs 146 low may not be broken in view of buying interest in the stock.
4 Jan 2009
Best Indian Stock Market Tips: Reliance| Tata Steel| 06 Jan -10 Jan 2009
Best Indian Stock Market Tips: Reliance| Tata Steel| 06 Jan -10 Jan 2009
2009-01-04T01:51:00+05:30
Analyst
bluechip Indian stocks|
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