Date:30/07/2006 URL: http://www.thehindubusinessline.com/bline/iw/2006/07/30/stories/2006073002430700.htm

Back Negative bias in Reliance

The stock underperformed the markets last week.

The price is currently struggling with its 50-day moving average positioned at Rs 990.

Though it touched an intra-week high of Rs 1,015 on Thursday, the resistance level mentioned last week at Rs 1,044 remained untested. The negative bias for the short-term continues in this counter.

Supports for the week will continue to be at Rs 919 and then Rs 835. Hold your long positions with a stop-loss at Rs 910.

Lokeshwarri S.K.