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RIL remained in the band between Rs 1,700 and Rs 1,800 last week. If the stock sustains above Rs 1,700, it can make an effort to move higher to Rs 1,808 and then Rs 1,855 over the medium term.

But as mentioned earlier, the medium term up trend from Rs 1,262 could be nearing completion.

The medium term target on the down side stays at Rs 1,580.

The short-term supports for the stock exist at Rs 1,700 and then Rs 1,644. Traders can hold their trading longs with a stop at Rs 1,690. Fresh longs should be avoided below this level.

Lokeshwarri S.K.

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