Reliance industries ltd

                                                             Reliance daily chart (click on chart to zoom)

Reliance after breaking out of falling wedge pattern (as shown in the chart) is now trading in the upward trading channel. Stock if continues to trade in the channel then it can touch newer highs in the coming days or weeks. Stock is however trading below it 20 ND 50 DMAs which is a concern but as long as it does not break the channel short positions should be avoided.
Stock can be bought at CMP for the short term target of 950 with stop loss at at 840. (The strategy should be reversed if it breaks the channel downside)
CMP - 862

Amtek Auto ltd

                                                               Amtek auto daily chart (click on chart to zoom)

 On daily chart, stock of Amtek auto has been correcting since last two years and now trading near its year low. Stock had bounced back from Rs 70 in the month of December 2012 to 94  after making new low. From Rs 94 it corrected again and now trading near same 70 levels. Expectation is that stock may hold the level as it may act as a support downside. Stock can be accumulated at CMP (72.1) and in every dip till 69 for the short term 82.
Stop loss at 66 recommended.