Important Nifty 50 - Stock updates - 1

Reliance bonus was expected by the market participants to give huge moral boosting fillip to the stock to cross the crucial resistance level 2240 but that turned out to be a single day show. Now form the charts it’s clear that 2050 is important support level and break down this would take the below 2000 to test 1961 level. On the higher side any close above 2205 used to enter longs for higher target. Reliance this week,

Support 2051 – 2006 – 1961
Resistance 2130 - 2176 – 2235

BHEL is another stock that crossed the 52 week high and given up some of the gains to close below 2500 levels. Now the stock immediate support is around 2350 and longs are safe until this level is not broken on closing basis. BHEL this week,
Support 2424 – 2375 -2326
Resistance 2451 – 2501 – 2551