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Investment World
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Technical Analysis
Markets
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Stock Markets
Reliance
Lokeshwarri S.K.
The Reliance Industries stock led from the front last week, leading the charge with 11 per cent gain.
The shallow correction witnessed since early September can now be labelled as the second wave from the Rs 1,700 trough.
The target for this up-move
is Rs 2,307 and then Rs 2,485.
The gung-ho signals generated
by the weekly oscillators
leads us to expect the stock to
move towards the second target
over the medium term.
This positive view will be
negated only if the stock falls
below Rs 2,100. Short-term
traders can buy the stock with
a stop at Rs 2,180. Immediate
target for the stock is Rs
2,344. Investors can hold the
stock as long as it remains
above Rs 2,000
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