It may be shocking to most of the bulls here, people may think I have gone out of my senses but the fact remains that Reliance Industries is not strong for a longer period. Reliance was stable in the early months of 2007 when market was volatile and it remained bullish for rest of the time. Considering its quarterly results which would be out soon, I expect Reliance to consolidate/fall from levels of 1750-1800 to levels of 1570, 1430 and 1310.First of all I do not call this kind of market a bull run. A run in which selective stocks move cannot never be a bull market. Its more a stock specific market driven by news and speculation. It cannot hold good for long and the ultimate Fundamentals have to come into play.
One can use part of the profits made in this rally to buy Put Options of Reliance of 1600-1640 and roll over. This way you would not be putting your capital at stake but just part of the profits.
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