The stock has support at 305-285-256 levels and resistance at 350-378 levels. The long term trend on monthly chart is intact. Hold with a stop loss of 285 and a target of 440-450 in one year. The results were disappointing because of margins contraction. However, the company’s African operations are likely to play a major role. Hold with a target of 420-421.

Reliance Industries Ltd has informed BSE that the Crude Distillation Unit No.1 and Coker unit at the Jamnagar Refinery complex, which were under planned shutdown for carrying out maintenance activities from last week of October, 2010, has been safely restarted on November 17, 2010 and is operating satisfactorily. Avoid to buy till few days specially whole R group.Corp war is intensifying.

The stock has support at 92-77 levels. It is trading at a life time high and profit booking looks on the anvil which might bring down the stock to 115 levels. The long term trend is intact.The stock is trading at its 52 week high. The bank’s asset quality is an area of concern. The net NPA levels are high. The price to book ratio is low. Book profit and can shift to South Indian Bank, IDBI Bank or Karnataka Bank.

The stock has been an underperformer in the current market rally. It is making lower tops and bottoms on the charts and is trading below its 200 day moving average. The stock has not performed. The telecom sector as a whole has under pressure because of the CAG report. Shift to Idea Cellular.