RIL faces resistance at 1020: Rohit Shinde

ET Now spoke to Rohit Shinde, Asst. VP, Technical Research, CD Equisearch Pvt Ltd, on his views on the Reliance Industries stock.

ET Now: In the cap goods space, probably some bit of action seen in Reliance. How are you viewing the charts on Reliance Industries currently?


Rohit Shinde: In Reliance, we are currently trading approximately at 1014 levels. Now we have got a good bounce back around from the 960 levels but it is just struggling to keep its head above this particular resistance of 1018, like 1020 approximately.

So for this stock, it should close very strongly above these levels of 1020, stay preferably one or two days above this particular level, then only we can get some strength for this counter.