Reliance - the next move ?

In my previous blog, I had indicated that the Nifty support is crucial at 5250 and that the weekly 'doji' will get confirmed once this level is broken.... Well, the markets refuse to become bearish just yet! ..

So watch the resistance of 5360-85 and remain long till 5250 is broken. . .

One stock which was on my radar for some time is index-heavyweight Reliance Industries. It has closed just near to the resistance level of 1095/-



A break above Rs 1100/- should technically bring in new buying interest and when this happens with volumes our next immediate target will become 1145.. A break beyond that level will open up fresh possibilities!!

Now, I wonder, if Reliance is likely to turn bullish, Nifty surely will not go the other side ....

And incidentally, many stocks discussed here are achieving targets and I am finding many new stocks which can return good money ...

Happy trading !

CA Rajiv D Khatlawala
www.investogyan.com
Creating Educated Investors
"If not the GODS, put the ODDS on your side"