On Wednesday, stock markets went up thanks to buying in Reliance Industries, a major company. Global markets also looked strong. Here’s what happened:
Key Stocks:
– Reliance Industries (RIL): RIL’s stock increased by 1.07%, reaching about Rs 1251. It faces some resistance around Rs 1255, which has been a tough spot for it in the past. The stock’s momentum looks positive as the Relative Strength Index (RSI) is at 51. If it breaks above Rs 1270, it could aim for Rs 1300 and Rs 1310. If it drops below Rs 1230, that would be a concern.
– Infosys: Infosys gained 0.6% and is trading in a narrow range with support at Rs 1880 and resistance at Rs 2000. The RSI shows a recovery at 54. If it goes above Rs 1975, it could hit Rs 2000 and Rs 2050. However, if it closes below Rs 1880, that would change the outlook.
– Axis Bank: Axis Bank’s shares fell by 2.5%, and it’s now around Rs 1025, close to a key support level of Rs 1000-1010. The RSI is at 29, signaling that it might stabilize. If it breaks above Rs 1054, it could reach Rs 1100 and Rs 1120. But if it goes below Rs 1000, that would suggest further problems.
Important Note: These insights are just suggestions from experts and do not reflect the views of Niftystat.
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