Buy Reliance Industries once it shows more strength: Mitesh Thacker
Reliance is a stock which has been holding out nicely in the sense that it twice came back from sub-700 levels, which was a breakdown level.
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| Updated: In a chat with ET Now, Mitesh Thacker, Technical Analyst, miteshthacker.com, shares his views on various stocks.
ET Now: What is your call on Reliance Industries?
Mitesh Thacker: Reliance Industries is a stock which has been holding out nicely in the sense that it twice came back from sub-700 levels, which was a breakdown level. That is a false breakdown but 750 would be an important level to watch out for. Above that, this stock can even go to 810. So, I would buy Reliance once it shows more strength and confirms a breakout above 750.
ET Now: What is your call on Reliance Industries?
Mitesh Thacker: Reliance Industries is a stock which has been holding out nicely in the sense that it twice came back from sub-700 levels, which was a breakdown level. That is a false breakdown but 750 would be an important level to watch out for. Above that, this stock can even go to 810. So, I would buy Reliance once it shows more strength and confirms a breakout above 750.
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