Technical Analyst, Vijay Bhambwani is of the view that Reliance Communications has immediate resistance at Rs 440-450.

Bhambwani told CNBC-TV18, "Reliance Communications is witnessing some amount of a buy now. The panic bottom, which was being created below the Rs 380 levels, seems to be holding as of now. I think it can scale up all the way to Rs 440-445 that’s where the immediate resistance would be. This is more of a momentum stock and I think traders and scalpers are likely to benefit more than short to medium term investors at this point in time."