RIL has support at Rs 1150: Gujral

231488 Investors following Reliance. Share this News with them.

0

Like this story, share it with millions of investors on M3

RIL has support at Rs 1150: Gujral

Technical Analyst, Ashwani Gujral is of the view that Reliance Industries has support at Rs 1150. It may not make a new low but again the high that it has made yesterday will probably hold. It has resistance at around Rs 1,476.

Post your opinion here

 

0

Tweet

Share on Tumblr

Excerpts from Markets Midday on CNBC-TV18 Watch the full show » RELATED NEWS Reliance has resistance at Rs 1480-1500: Mathew Reliance Ind slips on profit booking Reliance Ind plunges nearly 4% Buy RIL, target of Rs 1914: Indiabulls Securities ALSO READ See what other Experts & Brokerages are saying about Reliance See messages about Reliance Reliance BSE | NSE 13/02/12 Are Mutual Funds betting on Reliance?

Technical Analyst, Ashwani Gujral is of the view that Reliance Industries has support at Rs 1150.

Gujral told CNBC-TV18, "We have had a very sharp rally and now is it very difficult to say whether this is a bull market or a bear market, in the sense that it is now become a trading market. The kind of volatility we have seen over the last few weeks, now the range will start becoming narrower. So Reliance may not make a new low but again the high that it has made yesterday will probably hold. So resistance is around Rs 1,476 and support should come in around Rs 1,150 sorts of levels. So I would not expect this market to make fresh lows but to have narrower and narrower ranges as it trades going forward."