RIL has strong support at Rs 960-950: Thacker

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RIL has strong support at Rs 960-950: Thacker

Mitesh Thacker, Technical Analyst of miteshthacker.com is of the view that Reliance Industries has strong support at Rs 960-950.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by Mitesh Thacker See what other Experts & Brokerages are saying about Reliance See messages about Reliance Reliance BSE | NSE 10/02/12 Are Mutual Funds betting on Reliance?

Mitesh Thacker, Technical Analyst of miteshthacker.com is of the view that Reliance Industries has strong support at Rs 960-950.

Thacker told CNBC-TV18, "Reliance Industries still remains of a range bound kind of a trade. Rs 960-950 we are seeing very-very strong support levels that is where the weekly bottoms are there so that is a strong support area for Reliance. On the upside Rs 1040-1050 which is the area where the 200 day moving average is there I think that is the supply area. It is more of a Rs 100 range kind of a trade as of now."