This is a 12 month daily chart of Reliance - this stock is of so much importance as it has power to drift the markets in any given way single handedly. Stock is precariously poised at long term (1 year ) support trend line which has given support to the stock in every major fall plus there are multilple supports around 970-990 zone. Buy Reliance Inds part qty at current levels 1005-1010 and other part in 975-985 zone with stoploss of 960 on closing basis and look for targets of 1090/1145 in medium term.
Stock View: Petronet
This is a weekly chart of Petronet and the stock is looking good as it has given a nice breakout from upward flag pattern and that too with huge vols. Buy Petronet at current levels of 90 with stoploss of 80 on closing basis and look for targets of 115/130 in medium term of around 3-6 months This stock is recommended for only those investors who have patience.
Have a nice trading day
Regards
Ankit
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