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Reliance Industries may fall below major support, Afzal Lokhandwala warns
Reliance Industries is approaching a critical support level, according to Afzal Lokhandwala. He suggests the stock could break below this point, with the next target on the chart more than 15% below the current price.
Lokhandwala notes that an increasing number of stocks are confirming overall market weakness, supporting his ongoing bearish stance on market conditions.
Lokhandwala previously highlighted downside risk for the India market after identifying selling pressure near the 22,500 level in his recent index analysis. He has also discussed the emotional toll that tracking oil prices can have on traders trying to predict NIFTY movements, describing the process as anxiety-driven in an earlier commentary. These assessments add context to his current bearish outlook.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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