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| Discuss Reliance - Waiting to Fall !!! at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Friends , This is the Post which I have put on my own Blog on ... |
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#1
29th May 2008, 05:32 PM
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Reliance - Waiting to Fall !!!
Friends,
This is the Post which I have put on my own Blog on 27th May 2008 (Tuesday) It is probably time to take market cues from the Index mover Reliance Industries. { Please see the attached Chart to get a better perspective } The Stock did try to surpass the resistance zone of Rs 2650-2700 but failed to do so, presumably because of heavy selling from large players. Technically, you may consider that the pre-Jan08 support zone of Rs 2700/- has now effectively become a resistance zone - a classic case of previous support changing its role as a resistance provider!! The more recent move from Rs 2200 levels to Rs 2700 levels is in the form of a rounding pattern (though technically it cannot be called a rounding top). The immediate support is at Rs 2480, which is incidentally today's low and a break below this should lead to further selling. I would expect price to re-enter into the sub-Rs 2200 price zone. Keep a Stop at 2665 for short sell positions. And yes, if this heavy weight falls as evaluated, I wonder which stock can support an already weakening Nifty !!! Happy trading ! CA Rajiv D Khatlawala 
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#2
5th June 2008, 02:13 PM
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Reliance - tgt achieved
Friends , Those of you who read my post on May 28th would remember that I had given / explained a technical view that reliance industries should test sub-2200 levels ... At that time the price was above Rs 2480... ( see chart attached with my earlier post)
(I had copy-pasted the technical view from my OWN BLOG , which is updated daily evening) The target has been reached ... Hope some of you could take advantage !! Happy Trading CA Rajiv D Khatlawala
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#3
23rd June 2008, 09:07 PM
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Re: Reliance - Waiting to Fall !!!
hi
rajive bhai will you please post ur blogg adress here ? Ali
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#4
30th June 2008, 12:06 AM
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Re: Reliance - Waiting to Fall !!!
reliance will get back to below 1000 level by the end of 2010.
and this is true. I cannot give the reason because its very secret how did i analysed it. But if you dont belive and fix in your money to it ... u will surely suffer very badly. Losing all your capital that will be drowned away in front of your eyes. well wisher..
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