Reliance Industries -Trend Decider stock :Update
25 July 2009
* Reliance Q1 net misses forecasts, down 11.5 pct
* GRMs tumble over 50 pct, hurting earnings
* Sees growth from new refinery, KG D6 production
Reliance Industries , India’s top energy firm, on Friday posted a larger-than-expected 11.5 percent fall in quarterly net profit, its third straight quarterly decline, as its refining margins more than halved.
Reliance said its net profit fell to 36.36 billion rupees ($754 million) from 41.1 billion a year ago.
Above result …now known to every street person !!Now what to expect on Monday ?
Chart indicates :Last close Rs.2021-July Future.
-1982—1961 are support points.Break below 1961 with volumes and trades for 5/10 minutes watch bloodbath of your life in this stock.Freefall upto 1854—–1833.
Students of Technical Analysis can see Hrly chart and watch out Triangle of Rs.97.Triangle target is Rs.1891…….Sure to know more details send me mail at Anirudhsethi71@yahoo.com
Updating time :23:45 /Friday /24th July.
