Friday, 14 November 2008

Stay away from Reliance Industries: Sukhani

Technical Analyst, Sudarshan Sukhani is of the opinion that traders should stay away from Reliance Industries.

Sukhani told CNBC-TV18, "Reliance does appear to be the most vulnerable stock. The stock has no support at all. The support in fact is so much lower that the stock can go for a free fall and still not find anything to hold on to. So it would not be a buying opportunity even on a dip or a crash, traders should stay away from it."

Source: Moneycontrol

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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.