Business »  Topic »  Weekly trading guide: RIL witnesses softening in price

Weekly trading guide: RIL witnesses softening in price


The stock of SBI remained flat last week and the lack of trend is evident from the price action in daily as well as the weekly chart. For the past few trading sessions, the scrip has been fluctuating between ₹186 and ₹192 — the 23.6 per cent Fibonacci retracement level.

Not just during the past few sessions, the stock had been sluggish throughout July, largely moving between ₹182 and ₹200. An attempt to break out of the critical level of ₹200, a couple of weeks ago, was unsuccessful. Unless the stock breaches that level, it cannot establish a sustainable uptrend ...


Read the full text thehindubusinessline