>Reliance

After making an high of 2674+ Reliance has been falling consistently and has lost more than 200 points in this fall things looks upbeat for this stock for couple of trading sessions at least so reliance should try to touch 2560-2550 in the coming days to complete corrective wave rally.

Ones who want to try a trade on this analysis can long reliance with a stop loss of more than a percent from present levels and hold it.

Risky players can even try immediate strike price or 2550(resistance)call option.

Regards
Rish

>Yahoo messenger virus

This is important for you if you are a trader and use yahoo messenger to get connected with fellow traders.
There is a new virus outburst which attacks yahoo messenger this virus spreads through pen drives due to which when ever we try to login yahoo messenger disappears and gives an error message application error if any body facing such trouble can contact me on rishtrader@gmail.com or can add me in yahoo messenger id:- rish.trader@yahoo.co.in.

I would be happy to help you to remove that virus an i myself went through that virus hunting.

Regards
Rish

>Nifty 23rd may

Nifty breached today trailing stoploss which was kept near 5050 and kept trading for the rest of the day in range of 5010-5060 before closing near to todays low which is almost on trendline support.

Tomorrow being all important day INFLATION figures which with the kind off crude surge looks like would be on higher side its only matter of time when fuel hike is announced politics too cant hold things for too long(election year)thing to be watched would be how much hike may come lets keep fingers crossed and watch next 2 weeks would be full volatile with expiry too nearing it would be full DHAMAAL as of now for the levels 5050-5060 would act as immediate resistance for nifty upside.


There is a posibility of a triangle formation(technically) in nifty and if thats happening we could be in for a rise say till (5090-5100) D leg up for triangle.All in all 4950 with some error of a percent holds the key for the bullish case a chart is attached

Regards
Rish

>NIFTY VIEW

Nifty gapped down but unlike most of the world markets recovered smartly and closed in green,If you are long in NIFTY 5050 remains trailing sl for longs with short term trendline support at 5000-4980 trade accordingly




regards
Rish