June 2006


Dear all ,

Reliance Capital had taken a beating during the recent market crash , but one finds that the stock is back in favour and seems to have entered a super bullish phase . During the last two days it seems to have topped off this Bullish phase by forming a pennant formation , thus giving us indications of a possible breakout ! Given this one may consider positions in Reliance Capital with a reasonable risk to reward ratio.

 Reliance Capital PENNANT.JPG

Rel Cap BUY
************
Entry Prices ->> 490-525
Target Price ->> 680 on Breakout
Holding Period ->> 3 days for breakout and then 10 daye to achieve target
Stoploss ->> 470

Avinash MB

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