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RIL was one of the least affected from Friday’s carnage. But the star in the weekly chart with a long upper shadow does denote that the downward pressure could be beginning to build in this counter.

The supports for next week would be available at Rs 1,850 and then Rs 1,790. The short-term outlook will stay positive until the stock trades above Rs 1,790.

If the stock moves lower, it would find support at Rs 1,750 and then Rs 1,684. Investors can hold the stock till it sustains above Rs 1,684. Traders can watch out for buying opportunities in dips to the supports mentioned above.

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