• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Reliance played the atlas last week; helping to keep the Sensex and the Nifty to stay afloat. The stock moved past the resistance at Rs 3,050 to achieve our first target of Rs 3,114. The break-out last week could be the resumption of the impulse move from the trough at March 2007. This wave has the targets of Rs 3,443 and then Rs 3,931. These targets remain achievable as long as RIL holds above Rs 2,654.

The near-term outlook for the stock is also positive. The stock is expected to move higher to Rs 3,252 and then Rs 3,407 shortly.

Investors with a short-term perspective can buy the stock in corrections with a stop at Rs 2,930.

More Stories on : Technical Analysis | Stock Markets

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
AIG Infrastructure and Economic Reforms Fund — A diversified theme

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line