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Tuesday, March 29, 2011

Look at Reliance.

The biggest stock in the NSE. Lets have a look.

Correction in progress. Looks like more ahead. But first I think we are gonna hit that point where the Upper blue trend line intersects with the red line. That comes at 1050. So wait for sometime before shorting . If this goes down like I foresee on this chart (WXY) , then the broader markets will also come down . And so I also expect the NSEI to go to 5800.

Another interesting chart I saw was this weekly chart . A symmetrical triangle from which Reliance broke out after 2 years. !!!!!!!!!

Heres Bulkowski's site:::


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