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The RIL chart continues to be one of the strongest among the pivotals. The movement of RIL last week closely mimicked the movement witnessed in this stock in the previous week. Our outlook for this stock stays unaltered. The short-term outlook stays positive till the price is above Rs 1,320. Buy on dips for short-term purposes with a stop at Rs 1,318. The medium-term outlook is also bright. The stock has just broken out from the prolonged sideways move witnessed in November and December 2006. This move has targets of Rs 1,412 and then Rs 1,556.

Lokeshwarri S. K.

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