Wednesday, January 18, 2012
Daily Analysis of Stocks - 18th January 2012
The stock has shown up rally during the trading hour and ended up with a gain of 3.97%. It has taken support at lower levels and bounced back in today’s trading session. It is now facing a resistance at 540 and support at 513. It is expected to show some correction in coming trading sessions. Breaching of the support level may take stock further down. One could hold a short position below the level.
R2 – 543.13, R1 – 533.57, PP – 519.43 , S1 - 509.87 , S2 – 495.73
Reliance Industries has shown up rally during the trading hour and ended up on a positive note. It is now facing a resistance at 753 and support at 730. The stock has been very volatile from last few trading session. It is expected to remain volatile in coming trading sessions too. One should avoid entering at current level till it consolidates at either side levels.
R2 – 761.9, R1 – 751, PP – 733.5 , S1 - 722.6 , S2 – 705.1
Today the stock has continued to trade with an uptrend with a consolidated move. It is having major resistance at the level of 92 where the stock is likely to sustain in the near term until it manages to cross the same level. Breach of the support level of 85 may show some correction in the stock.
R2 – 91.45 , R1 – 90 , PP –88.65 , S1 - 87.2 , S2 – 85.85