Reliance Industries can slip to Rs 880-885: Jatinder Sharma

Reliance Industries can slip to Rs 880-885, says Jatinder Sharma, Partner, Equity Strategists.

Sharma told CNBC-TV18, "Along with SBI today two more heavyweights have seen technical breakdown, Tata Steel as well as Reliance Industries. Reliance Industries was finding support around Rs 935-940 levels and it was expected that it will bounce back again to about Rs 979-980 kind of levels but it has broken support and now it could be headed towards Rs 880-885 levels."
He further added, 'Similarly Tata Steel has given a valid breakdown. So SBI, Reliance as well as Tata Steel, these three could be the leaders in this particular fall and they might lead towards 5,330-5,335 kind of levels."