RELIANCE HOLDS, BANKS HOLD....THEREFORE MARKET HOLDS!

The BIG DADDY of the Indian Stock Markets has bounced back smartly from its important supports. Please find the chart attached below. It has also been an underperformer in this upmove.Ever since the company declared bonus it hasn't fared well on the bourses.This is very unlikley of its behaviour.It will play catch up soon.

Buy Reliance Industries with a stop loss of 980 for a target of 1120.It will encounter a major resistance around 1060 and has the capacity to wait there for some sessions!!

SOME OTHER STOCKS FOR THE SHORT TERM.
GLENMARK PHARMA : Buy on every dip for a target of 320-350.The stock is a slow mover and has the capacity to bore you to extremes!

GREAT EASTERN SHIPPING :
SHIPPING STOCKS tend to rise around winter season. Thats their seasonal behaviour. GE Shipping has been slowing moving up in an upward channel. The stock has the capacity to test 310-320...above which it will catch momentum. Buy with a stop loss of 260 for a target of 310-320 and above!!