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Discussion in 'Technical Analysis' started by siva934127, Jan 6, 2014.

  1. siva934127

    siva934127 Member

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    Today I bought the stock Reliance based on the news.

    Purchased price : 852

    Please let me know your views for short term only.

    Thanks,
    Siva.
     
    siva934127, Jan 6, 2014
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  2. yankeedin

    yankeedin Responder

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    835 is strong support, actually its in sideway movement between 840 and 920. can hold for target 900. sl 835
     
    yankeedin, Jan 6, 2014
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  3. shabbir

    shabbir Administrator Staff Member

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    What news?
     
    shabbir, Jan 6, 2014
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  4. siva934127

    siva934127 Member

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    RIL to increase KG-D6 gas output RIL and its partners BP plc of UK and Canada's Niko Resources have spud the seventh well on the MA oil and gas field
    in the KG-DWN-98/3 or KG-D6 block in Krishna Godavari basin.

    Fundamentally:
    I personally treated this as a positive news for this stock and earlier also got some good news regarding Bank guarantee (agreed on gas price hike) .

    Technically:
    Based on 29-05-2013 candle's high 849 (I took this as a intermediate support)

    Please correct me if i am wrong.

    Thanks,
    Siva.
     
    Last edited: Jan 7, 2014
    siva934127, Jan 7, 2014
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  5. shabbir

    shabbir Administrator Staff Member

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    I would prefer buying in the leg up and I see the leg down is now on and the support of 820 to 830 may be tested and then it may be the right idea depending on the pattern being formed.
     
    shabbir, Jan 7, 2014
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