Posts Tagged ‘Reliance Stock’

Trading Strategy-RNRL

Sunday, August 16, 2009 Leave a comment

RNRL is a trader’s favourite as it gives significant moves in either direction for the traders. Currently the stock is in a tight range of 75-85 with a slightly bearish bias. So traders could short the stock on a rise close to 85-86, keeping a stop at 87-88. On the downside, targets could be 80 and 75. Countertrend traders might buy the stock again at 75 to trade the range.

Short term Momentum traders can go long if the stock closes above 86. The short term targets could be around 95.

Medium term swing traders can trade the stock if it picks up steam after crossing 95-100 barrier.The targets can be 115-125.

The stock might react to news on the current dispute between RIL and RNRL.

The intention of  this post is to show different ways of trading the same stock based on your trading/investment style. So plan your trade before you make buy or sell.

Also check out how the stock had moved in last bull market.


Reliance Results Disappoint -Will NIFTY trend reverse?

Sunday, July 26, 2009 Leave a comment

Reliance has posted disappointed results. The experts feel that the markets will go down with Reliance.

It will be interesting to watch tomorrow’s move on the indices as reliance is a big heavyweight. My sense is that bulls might try to pull up IT,FMCG and Auto to minimize the damage. Also crude oil(close to $70) has been trending up nicely. So buyers might come in at lower levels to pick Reliance.

Support for the stock exists round 1700 levels.

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