Stock Pick for the day... 07-01-2008... TESTING...

So finally Reliance Energy has come up as a buy again...
Apart from another big stock Ranbaxy...

Good upmove expected atleast with REL... Chart given is that of REL...

Color coding for the 3 lines is as follows...

Red is 100 day EMA

Green is 10 day EMA

Yellow is Closing value

As for targets I still see around 7350 on the Nifty... However it would be prudent to book profits on the up or on the way down around the 7000-7050 levels... I expect the Nifty futures to stay above this for about 20 trading sessions... Intermittantly it could come down too... But fact is atleast 20 days would be available to book profits... These are my thoughts based on the trend I am currently following...

Have a great trading year 2008...

Regards,

Sam