Reliance natural gas listed some days back has gained nearly 100%.People who invested in the stock at at lows has gained a lot.Is it good to invest in that stock at cmp?RNRL will be the sole supplier of natural gas for RIL.This is good for the stock,but investors should be cautious as the stock is at its resistance point.RNRL will face strong resistance at 30-32 level,but if it stays at that level for 3-4 days then it can go higher.Otherwise it will come down to 22-27 level or even lower back to 18.So investors should wait for the dip to come and accumulate the stock at 18-20 level.
Sunday, March 12, 2006
Technicals
RNRL
Reliance natural gas listed some days back has gained nearly 100%.People who invested in the stock at at lows has gained a lot.Is it good to invest in that stock at cmp?RNRL will be the sole supplier of natural gas for RIL.This is good for the stock,but investors should be cautious as the stock is at its resistance point.RNRL will face strong resistance at 30-32 level,but if it stays at that level for 3-4 days then it can go higher.Otherwise it will come down to 22-27 level or even lower back to 18.So investors should wait for the dip to come and accumulate the stock at 18-20 level.
Reliance natural gas listed some days back has gained nearly 100%.People who invested in the stock at at lows has gained a lot.Is it good to invest in that stock at cmp?RNRL will be the sole supplier of natural gas for RIL.This is good for the stock,but investors should be cautious as the stock is at its resistance point.RNRL will face strong resistance at 30-32 level,but if it stays at that level for 3-4 days then it can go higher.Otherwise it will come down to 22-27 level or even lower back to 18.So investors should wait for the dip to come and accumulate the stock at 18-20 level.
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