Friday 14 November 2008

Reliance can go down by another Rs 125: Mathew

Technical Analyst, E Mathew is of the view that Reliance can go down by another Rs 125.

Mathew told CNBC-TV18, "From here Reliance has the ability to drag the market further down and in the process Reliance itself can go down by another Rs 125 odd. But once again I would like to reiterate that next week is very crucial and if on Monday, Reliance and Tata Steel, both continue to remain weak then I am afraid that this 2,810 level, which we are all looking at so intently, that would not hold out."

Disclosure: It is safe to assume that I & my clients may have an investment interest in the stocks/sectors that have been spoken about.

Source: Moneycontrol

No comments:

Post a Comment

DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.