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RIL (₹884.4)
Last week, the stock gained almost 5 per cent and recorded an intra-week high at ₹909. However, after testing resistance at ₹900 and facing selling pressure, it shed some of its gains to close the week 2 per cent higher. The daily and weekly relative strength indices feature in the neutral region. The daily price rate of change indicators has entered the positive zone, implying buying interest. But to confirm the bullish trend, the stock needs to break its immediate resistance at ₹900. If that happens, the stock can extend its rally to ₹925 and ₹945 in the short term. Traders with a high risk appetite can buy with a stop-loss at ₹860. Medium-term investors can buy the stock with a stop-loss at ₹830. A strong fall below ₹830 can drag the stock lower to ₹820 or ₹800 levels.
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