June 7, 2010

Reliance industries can give a good move

  • Reliance industries is trading near the ascending triangles bottom trend line.
  • If the trend line gives support it can give a good up move.
  • If it breaks a large correction can be expected. But my personal view is that having given support so many times this trend line will again save reliance industries. 
  • So one can play long with a stop loss just below the trend line.
  • CLICH HERE TO SEE NIFTY WEEKEND ANALYSIS
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3 comments:

  1. GANESH PLJune 7, 2010 at 11:12 AM

    Hi San,
    Can i add reliance industries for short term view, what will be stoploss i want to keep it.

    Thanks.
    Ganesh

    ReplyDelete
  2. SanJune 7, 2010 at 12:06 PM

    @GANESH
    You can buy reliance around here. But keep a strict stop loss of 980.

    ReplyDelete
  3. GANESH PLJune 7, 2010 at 12:46 PM

    Thanks San,
    sure i will keep my stoploss 980...

    ReplyDelete

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