Reliance

With the 1305-1315 zone again spoiling the party, Reliance reacted downward after hitting a high of 1312 on friday. It remains as one of the four scrips, alongwith ONGC, HDFC and SBI, that can enable Nifty to break past the 4050 barrier and scale new highs. Unless the quartet performs, the chances of a new high on the index are bleak. The levels given earlier hold still.