TRADING TIPS: 13OCT TO 17OCT 2008

RELIANCE(1528)
On closing below 1700 it didn't take much time to touch the lower levels of 1500 last week.
Near term trend in this stock is down.
In near to medium term it can edge lower towards 1310 with midway support at 1450 levels. Its negativity of short term is mitigated only on a close above 1800; but seems unlikely in the near term due to the prevailing sentiment.
Though, not likely so soon, if it gives a close below 1300 then the levels of 1000 would come into the reckoning.

SBIN(1352.5)
This stock has been bravely working hard to maintain its support levels. It stuck to its bastion in spite of a decline to 1181 on intraday basis. Keep holding the longs until it keeps closing above 1250 levels for the targets of 1570 and 1800. Resistances would be at 1400 and 1450.

INFOSYS(1225)
Made an intraday low at 1040 and recovered to close above its long term support at 1100 levels. Now it could be charting an upmove in the short term towards resistances at 1332, 1422 and 1512. Inability to move past 1332 and 1422 would be a signal of impending weakness for the long term.