According to IIFL, traders can buy Reliance Industries (RIL) January future above Rs 853 for the target of Rs 883 with a stop-loss of Rs 838.
"RIL has been consolidating symmetrical triangle for last 11 trading session and has been continuously facing resistance around Rs855. The triangle breakout would be confirmed only on move above Rs853 else prices could see short term decline towards Rs830. The 20 DMA for the counter is placed at Rs822 which could turn out to be make or break levels. (Duration 12 days)," says IIFL research report.
Institutional holding more than 40% in Indian cos
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