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RIL held rock steady last week as the rest of the stocks crumbled. It moved in a narrow band between Rs 1,400 and Rs 1,450.

A doji star is apparent in the weekly chart, which denotes indecision. But the short-term outlook is positive. The stock has the short-term target at Rs 1,486. If this level is crossed, we can see the stock price heading towards Rs 1,547 or Rs 1,575 in the medium term.

The momentum indicators in the weekly chart are beginning to signal a buy again. Utilise dips to buy the stock with a stop at Rs 1,395.

Lokeshwarri S. K.

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