Comments
RIL (₹992)
Last week, the stock of Reliance Industries surged 4 per cent accompanied by above average volumes. With this rally, the stock has resumed its medium-term uptrend that has been in place from the September low of ₹826. The short-term trend is up and the stock trades way above its 50 and 200-day moving averages. The indicators in the daily charts feature in the positive territory, backing the uptrend. Short-term traders can consider buying the stock on dips with a stop-loss at ₹965. A resumption of the upmove can take the stock up to ₹1,010 and ₹1,030. Further uptrend can encounter resistance at ₹1,050 in the medium term. Conversely, only a decisive fall below the key base of ₹940 will mar the short-term uptrend. To alter the medium-term outlook, the stock needs to slump below the next support at ₹910.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.