RIL stock still looking weak: Rajat Bose, rajatkbose.com
In fact at higher levels, you will see that it would attract more selling and if the results are not up to expectations, there can be a very fast dip to 716 or even lower.
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| Updated: In a chat with ET Now, Rajat Bose, rajatkbose.com, gives his views on RIL.
ET Now: What is the call on Reliance Industries?
Rajat Bose: Reliance looks weak but it has already come very close to the support level, around 716 to about 720. So, maybe it can fall but 723 to 716 is the final support area before it tests the eventual 52-week low around 689 and overall the stock still is looking weak. In fact at higher levels, you will see that it would attract more selling and if the results are not up to expectations, there can be a very fast dip to 716 or even lower.
ET Now: What is the call on Reliance Industries?
Rajat Bose: Reliance looks weak but it has already come very close to the support level, around 716 to about 720. So, maybe it can fall but 723 to 716 is the final support area before it tests the eventual 52-week low around 689 and overall the stock still is looking weak. In fact at higher levels, you will see that it would attract more selling and if the results are not up to expectations, there can be a very fast dip to 716 or even lower.
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