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Sunday, Apr 30, 2006
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 Investment World - Technical Analysis


Reliance

The stock turned direction right at the support zone at Rs 940-950 mentioned last week. After touching a low of Rs 949, the stock staged a recovery on Tuesday. The long-term trend remains positive and the stock could move to Rs 1,150-1,200. The long-term trend would remain bullish as long as the stock holds above Rs 920.

Shareholders may remain invested with a stop-loss at Rs 945 for a portion of the holding and at Rs 920 for the balance. Fresh exposures may be considered on weakness, with a stop-loss at Rs 945.

B. Krishnakumar

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