>Reliance communication Technical Analysis feb 2009

Reliance communication at present levels can give a good trading setup.
A fall towards 160 levels should be bought with a stoploss of 155 for a target
of 185-195.
Chart shows a steep reaction to resistance at 240-260 which saw stock
falling steeply to 170 level with the kindoff structure in formation now
it looks like a short term bottom is in place hence we have the trading opportunity.
This view would be considered wrong if Rcom makes a new low without touching 185.

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