Reliance Industries Limited:
Stock has been undervalued for about two years completely, now there are visible chances of the price breaking out of this range as all the indicators are bullish currently. So stock could be attaining new year highs as soon as it breaks the resistance levels marked in the graph. Also a strong trend reversal pattern ( inverse head & shoulder) is observed. If the price breaks upwards, according to the A-B-C pattern, it is expected to grow up to Rs. 970 during long term. My good suggestion will be again to buy the equity of the stock or to buy 2 lots of March 2013 future derivative of the stock at Rs. 900 and wait for the target. (i.e: 70x2(250)= Rs. 35,000). [Advised SL: 870]
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