Monday, March 9, 2009

Reliance Power to slide 25% from current levels CMP 93

Reliance Power to slide 25% from current levels CMP 93

The level of 93 is a minor support from where the stock witnessed a rebound on last Friday. Once broken, a quick 10% fall can be expected. With lot of resistance points in the 94-100 zones, the upside is capped

Advise: Investors to sell the stock if it falls below 93 with a closing stop loss above 101 for a short and medium-term target of 81 and 69 respectively.

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