Moving Slingshot touch Help Needed

using UnityEngine;
using System.Collections;

public class slingShot_Mechanics : MonoBehaviour 

	public Transform fruitPos;
	public Transform player;

	public  GameObject orangeFruitPrefab;
	private GameObject orangeFruitClone;

	private Vector3 throwStartPos;
	private Vector3 throwMovPos;

	void Update()

			Touch touch = Input.GetTouch(0);
			if(touch.position.x< Screen.width/3)
				if(touch.phase == TouchPhase.Began)
					orangeFruitClone = Instantiate(orangeFruitPrefab,fruitPos.position,fruitPos.transform.rotation)as GameObject;
					orangeFruitClone.transform.parent = player.transform;
					throwStartPos = Camera.main.ScreenToWorldPoint(touch.position);					

				else if(touch.phase == TouchPhase.Moved)
					throwMovPos =  Camera.main.ScreenToWorldPoint(touch.position);		

					float temp = Mathf.Clamp( (Vector3.Distance(throwMovPos , throwStartPos )),-0.3f,0.3f );
					Vector3 differenceVector = (Vector3.Normalize(throwStartPos - throwMovPos))*temp;

					orangeFruitClone.transform.position = fruitPos.transform.position - differenceVector;
					orangeFruitClone.GetComponent<Rigidbody2D>().isKinematic = true;

				else if(touch.phase == TouchPhase.Ended ||touch.phase == TouchPhase.Canceled)
					orangeFruitClone.GetComponent<Rigidbody2D>().isKinematic = false;



This is a slingshot script, It is a 2D Game in which the object will be moving up and down [Y Axis]. Currently am able to shoot the fruits prefab clone. However it is not working the way I want.

Am not sure how to update the position correctly, currently am able to pull back the slingshot and throw fruits. However, it is not correctly updating according to the moved position. I have another script which will make the object move up and down, So once the object moved in Y axis to a new touch position the fruit should be thrown from that position. Currently the velocity is not accurate it is not updating from the touch position correctly.

Any help would be appreciated. Thanks for your time. Let me know if you need more explanation.

Okay, now I have a clearer picture of what is the problem.
On touch release, you are launching the fruit in the direction opposite to throwMovPos. That value is not to be used. That is just a representation of your touch position in 3d world. That has nothing to do with the direction you would like to launch your projectile to. Your direction should be a vector from your touch release position (A) toward the position where you spawn your fruits, fruitPos (B). And you want to use the current position of (B), not the position calculated when the touch began.
You get that vector by subtracting (B-A). Make sure you are using the values from the same coordinate system. So, before you calculate the vector, either project your fruitPos in Screen coordinates or project your touch.position into World. You have methods for that on your Camera.main object.