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FREE STOCK VIEW FOR 29-JAN-09

STOCK:RELIANCE INDUSTRY (1271)

VIEW: STRONG.

STRATEGY: BUY AT DIP.

Source – IndianMoneyPlus
Support 9150 and the resistance to the up move is at 9350 and 9480
Nifty support at 2820 and the resistance to the up move is at 2910 and 2985

BSE Sensex: (9257) the market yet gain unfolded as expected due to F&O expiry and we should see some more upside until the expiry on Thursday…some of Sensex heavyweights should propel the market up in the next few days…analysis remains unchanged and volatility at its best.

US Markets ended marginally higher, whereas European Markets ended flat to negative.

Going short on real estate stock is probably one of the easiest ways to make a quick buck in current market conditions. But stocks in this segment with low-floating stock are best avoided, as some bear traders at the Akruti City counter are finding to their cost.