RIL (₹811.3)

RIL has been consolidating sideways between ₹800 and ₹825 over the last couple of weeks. The short-term trend is down. Key resistances are at ₹820, ₹825 and ₹836. A strong rally above ₹836 is required to create a positive sentiment. But such a break appears unlikely in the near term. Fresh selling interest can emerge if the stock fails to move to the ₹820-836 resistance zone. But a decisive fall below ₹800 will also create selling pressure. Therefore, traders should remain cautious in the coming week. A strong fall below ₹800 will pave way for a decline to ₹770. Important resistance above ₹836 are at ₹860 and ₹885.