Sunday, June 19, 2011

Reliance Industries Ltd(RELIANCE)- A MultiBagger,Buy/Sell/Hold,Growth Pospects and Recomendation,News and Results,Target Price and Analysis,Views and Outlook


RELIANCE closes  at 868.75  with a fall of -2.10%   on 17 June 2011 with formation of Long Black Candle on Daily  Price Chart. Technically,  RELIANCE is looking extremely OverSold  Charts. Major Momentum Indicators are in bearish zone. Buyer-Seller Force Index &TAIO are showing strength of Daily Price Chart.It may Bounc-Back From the Lower levels.
We Recommend to BUY  -  RELIANCE  around 854
Target- 912/950
Stop-Loss – 835
Time Frame- 5-15 Trading Days
Editor’s Note : This Article is written by Vina S Singh, Senior  Chartist at  www.niftynext.com , which is a Technically Based quant Research Firm, M/S Durgapur Holdings in Durgapur, West Bengal, India that covers all Stocks, trades at NSE. We use Ami Broker Charting Software. You can reach the Chartist here mail@niftynext.com .


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The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned. No representations can be made that the recommendations contained herein will be profitable or that they will not result in losses. Readers using the information contained herein are solely responsible for their actions. Information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness. The above recommendations are based on the theory of Technical Analysis and do not reflect the fundamental validity of the Scrip. www.niftynext..com does 't take any Responsibility for any losses arising from using the Stocks Recommendations.
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