RIL is trading near the maximum Buy back price of 870 Rs. Avoid buying near those levels. And yesterday, Government rejected the price revision proposal submitted by Reliance on the KG-D6 gas. It added that $4.2 per mm Btu price was agreed upon by the company and furthermore the Supreme Court said the company should proceed with the price which was being agreed upon.

The GDP data released yesterday by the CSO(Central Statistics Office) showed that the economy to grow by 6.9% in the year 2011-12 which was lower than the projected 7-7.5% by the policy makers.

FII remain buyers in the Indian Bourses and markets are in no mood to correct in the near term. Trade with a strict stop loss. A rally would end when a good news for the rally doesn't warrant a move in the rally's direction. Even a bad news is not affecting this rally. Markets are looking out for reasons to cheer day in and day out. Trade what you see and use trailing stop losses for your longs and strict stop losses for your shorts.

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