Thursday 6 November 2008

Reliance may retest recent lows: Mohindar

Rahul Mohindar of Viratechindia is of the view that If Reliance Industries slips another Rs 10 odd from the current level; we are heading once again to retest the lows that it recently made.

Mohindar told CNBC-TV18, "Where we are sitting at is very important support. If Reliance slips another Rs 10 odd from the current level, we are heading once again to retest the lows that it recently made. But technically if we look at various short-term as well as medium-term indicators – they all point to a majority point to a probable new low. So that’s what scary and if that’s going to be a situation with Reliance Industries. That’s probably not going to be saving the Nifty too much of grace."

Source: Moneycontrol

Posted by Harsh at 08:00

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