Wednesday, May 8, 2013

0001RelianceInd26Apr2013 – Rely on reliance?


This is relatively a new stock that I am going to follow. It is interesting cause of its healthy volumes and hence the liquidity. Also, the glamour of the Ambani brothers also brings some good momentum in this stock. Currently the stock is expected to be bearish for another couple of sessions before picking up again.
In number terms, we can expect the stock to hit 765-775 range which is a decent support level to climb to 815-820 and if the D-gang has its way then we can expect it to touch the upper levels of 840-850 too. You can see me nervous when I use too many indicators as in the below chart ;-(

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