Under: Reliance Industries, , Buy call, Target Price, Buzzing Stock, stock prices, stock advice, Recommendation, Recommended price, Target, Reliance IndustriesTarget Price
Reliance industries has support at Rs 975, says Mitesh Thacker, Technical Analyst, miteshthacker.com.
Thacker told CNBC-TV18, "The most important observation for Reliance is that the stock price has been under performing the markets, in general it has been under performer for quite some time now, and still there are no signs of reversal over there.”
He further added, “The stock has been taking time and again support at the 200 DMA around the Rs 975 mark. As long as the stock holds above this level, I think there is no immediate downside to this stock price and probably Reliance will be one good stock which will shape the future movements of Nifty.”
“On the upside Rs 1,100 is the key levels. So its been moving in a contracting range, Rs 1,100 is the breakout on the upside level and if that were to happen probably I will bet again big on the Oil & Gas sector leading the markets to much higher highs than what we have seen till now."
Reliance industries has support at Rs 975, says Mitesh Thacker, Technical Analyst, miteshthacker.com.
Thacker told CNBC-TV18, "The most important observation for Reliance is that the stock price has been under performing the markets, in general it has been under performer for quite some time now, and still there are no signs of reversal over there.”
He further added, “The stock has been taking time and again support at the 200 DMA around the Rs 975 mark. As long as the stock holds above this level, I think there is no immediate downside to this stock price and probably Reliance will be one good stock which will shape the future movements of Nifty.”
“On the upside Rs 1,100 is the key levels. So its been moving in a contracting range, Rs 1,100 is the breakout on the upside level and if that were to happen probably I will bet again big on the Oil & Gas sector leading the markets to much higher highs than what we have seen till now."
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