Key support for RIL stock stands at this level; here's why

Quick Summary:

Reliance stock is down nearly 22% from its record high; historically, in the past decade, barring the 50% fall during Covid-19 sell-off, RIL stock has bounced back after a 21% correction.

Historically, Reliance stock has bounced back after correcting 21% from its peak.

The 100-WMA also coincides with the super trend line support on the monthly scale and the 50-MMA (Monthly Moving Average) at Rs 1,200 and Rs 1,170.

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Article Details

Category: BusinessFinance

Markets: India

Topics: RIL stock Reliance target Reliance industries Technical outlook on ril Reliance trading strategy Ril outlook Technical analysis

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-12 @ 12:27:54 (1 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 483 words

Reading Time: 3 minutes read

Sentences: 22 lines

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Copyright Owner: © Business Standard

News ID: 23546735

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