Reliance | Bounced from a support | Latest stock market news(3 minutes read)

Stock name: Reliance

Pattern: Bounced from a support

Time frame: Daily

Observation:
Reliance has been consolidating for more than a year now and has very recently bounced from the support levels of 2300 and is also trading above the 23.8% Fibonacci drawn from high to low. If it sustains above 2450, we may see some good upside momentum in this stock.

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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

News for the day:

1. Q2 result update: PVR Limited
Consolidated revenue down 30% QoQ

Consolidated PBT is a loss of 110 crores, as against a profit of 85 crores in the previous quarter

OPM down from 35% to 22%

2. Greaves Cotton: Co says Greaves Electric Mobility has achieved the milestone of servicing 1 lakh e-scooters in 6 months

3. Nestle 's board is all set to meet on Wednesday for its quarterly results as well as interim dividend announcement.

4. 5 Paisa capital, AU small finance bank, Bajaj Steel, CG Power, DNL, e Mudhra, Hatsun Agro, Havells India, HDFC AMC, IndusInd Bank, INOX leisure, Metro Brands, Navin Flourine, Nestle, Oracle, Persistent, Shoppers Stop, Ultratech Cement are some of the companies which will post their results tomorrow.