Business Daily from THE HINDU group of publications
Sunday, Feb 24, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Sunday, Feb 24, 2008 ePaper | Mobile/PDA Version |
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Investment World
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Technical Analysis Markets - Stock Markets 
RIL moved lower from an intra-week high at Rs 2,650. The stock is moving sideways between Rs 2,200 and Rs 2,650 since January 22. But long-term outlook for the stock stays positive. Reliance Industry is holding above the long-term trend line drawn from the 2005 trough and the support at at Rs 2,100 that is the 38.2-per cent retracement of the rally since then. The near-term outlook for the stock is negative. It can drift lower to Rs 2,320 or Rs 2,200 where traders can watch out for buying opportunity with a short-term perspective. Resistances for the week would be at Rs 2,650 and then Rs 2,720. More Stories on : Technical Analysis | Stock Markets
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