Sunday, September 25, 2011

Reliance - something better

Reliance broke down from a trading range giving a target of approx 685. The 685 to 600 area is a location where Reliance has lot of support. The summary is: Buying around 685 may be a low risk investing idea.

Chart below:

4 comments:

Akash said...

Hi, SIR MY QUERY ON RELIANCE SOME DAY BACK RELIANCE ABOVE 50 DMA SOME DAY CLOSE 50 DMA ,When price is above 50 MA the intermediate trend is up, what soon for trader, any time frame for stock close above 50 dma, after next rally start to 50 dma to 100 dma now, reliance fall blloe 50 dma???? Guide me sir...

sudhin said...

My value of 650 kind of agrees with your targets, let's c where it stops.

thirushankar said...

Hi Sir,

10 yrs MA is around 680

Shankar said...

hi sir
Rectangle pattern is also formed in Sterlite Ind