RPL may slip to Rs 144: Bhambwani

Technical Analyst, Vijay Bhambwani is of the view that RPL may slip to Rs 144.

Bhambwani told CNBC-TV18, "Reliance is clearly under pressure. It is underperforming RPL on the absolute short-term charts. Rs 1,840 is where I would watch out for some kind of support emerging on Reliance. Although even this support is not exactly infallible as it could go lower."

He further added, "I am unpleasantly surprised that RPL has cracked because so far it was outperforming the market in terms of falling less than the Nifty, was on downtick sessions. But now that it has cracked below Rs 156-158 bands, it could actually go all the way down to Rs 144."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.