Reliance..A Fight to cross 200 DMA

Reliance is trading at 820 which is also its 200 DMA. Generally 200 DMA is considered as long term entry and exit level. 

"The 200-day moving average is perhaps the most popular. Because of its length, this is clearly a long-term moving average. If price is above the 200-day moving average, chartists would consider it as a bullish sign and vice versa."

Though reliance has crossed its 200 DMA in early February but was unsuccessful to sustain it. Again the time has come for Reliance to show its metal. Good move can be expected above 820.  

Raymond:

Raymond can be a good buy at the current levels as it has given a much awaited breakout this time. The stock was trying to breach this level since Dec. '10. If it sustains above 405-07 then once can expect a good move.

Have a happy trading.

Cheers 

Chirag CM

NIFTY- Technical Analysis

Nifty may show some sign of reversal in upcoming days. Below are the reasons:

• 200 DMA is at 5165 while 50 DMA is at 5135 and both are considered as major supports.
• If small MA crosses long MA then it will be considered as bullish sign. Will it happen in case of NIFTY?
• After 5 red candles one reversal green candle was formed by it in last trading day.

Please share your views on this.

Follow me on twitter. @ccmoradia

Cheers
Chirag CM

Finally a breakout..Lupin

Lupin has finally given a breakout level of 490. It is also trading at 52 weeks high. It has tried to breach the same level few times before but couldn't succeed.

One can enter the stock at current levels with the immediate stop of 485 with the target of 534.

Happy Investing.

Follow me on twitter @ccmoradia

Cheers
Chirag CM