Reliance Break out , target 1800

Reliance has broken out of its channel and now heading towards target of Rs 1800. Let us see the charts .



I am making this post very late , The closing price for it is around R 1660 now (2nd Apr 09) . It is for sure heading towards its target of 1800 .

It does not mean , you go and buy it next day , that may not provide the best risk/reward . Only buy on dips now . If prices decline and go near Rs 1600 , then you can buy it with strict Stop loss .

If it continues to go further , it would be wise to wait now and rather sell it around Rs 1800 , on signs of weakness . Please see over all market conditions before making the decision .