After reversing from a Bearish Harmonic Crab, it took support at an Ichimoku Kumo cloud from where it bounced back to the Kijun resistance at 1560 in daily time frame. In hourly time frame it is near an important Kumo support. If it holds above 1510 it can retest 1575-1600
The stock tested the expected 1180 zone (see the following post) and was slammed down to break the channel.
Possible supports have been mentioned on the chart.
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The bad news is coming from the USA.
a big brokerage house Bernstein has said that reliance jio would have lost a 15,000 Cr in the current fiscal year if the standard accounting followed.
The company is showing subsidies expenses of jio handset in Reliance retail's accounts.
My personal viewpoint.
I usually don't like to invest in companies of reliance group,...