Longs on Reliance was given near 780 & updated time to time. The stock is also advised to be added as Diwali to Diwali portfolio pick. In current scenario, JIO is facing intense competition by not only Airtel but also by BSNL, Idea & Vodafone and the RIL stock has retraced 8-9% from recent peak.
We expect some more downside & support exists near 860-50 & 830-820 . This range can be used for fresh entry. Have a look at daily and weekly chart.
The above daily chart indicates that most of the technical indicators are in oversold territory, but trendline is yet to be tested and TA's can stay in oversold zone for a longer term.
We expect some more downside & support exists near 860-50 & 830-820 . This range can be used for fresh entry. Have a look at daily and weekly chart.
