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RCom, Reliance Capital: Here's how ADAG stocks look on the technical charts

Anil Ambani, Chairman of ADAG, in Mumbai (Photo: Kamlesh Pednekar)
Reliance ADAG stocks have been quite volatile in trade after the Supreme Court (SC) judgment on Wednesday in the Ericsson case that found the promoter, Anil Ambani, in contempt of Court. Though the group has said it will fulfill its obligations within the stipulated time, Reliance Capital meanwhile has invited Nippon Life to buy 43 per cent stake in the mutual fund.

Here's how ADAG stocks look on the technical charts.

Reliance Nippon Asset Management (RNAM): The weekly formation shows a double-bottom pattern, and needs to hold current levels of Rs 180 for another two - three sessions to gain further ground. It is well poised above 100-day moving average located at Rs 150, which is a key support for the stock as per the chart pattern. CLICK HERE TO VIEW CHART

Reliance Capital (RCap): The stock is trading with MACD (moving average convergence and divergence) below zero line. However, it has made a positive crossover and now needs to cross Rs 170 level, its immediate resistance, to gain ground. The RSI (Relative Strength Index) has already crossed 50. CLICK HERE TO VIEW CHART

Reliance Communications (RCom): The stock is trading near its lifetime low of Rs 4.85. Over the past few sessions, it has been volatile and has been drifting lower. The recent jump of 12 percent to Rs 6.45 lacked sufficient volumes. The counter may witness selling pressure on a recovery.  CLICK HERE TO VIEW CHART

Reliance Home Finance (RHFL): The candlestick formation in the daily chart indicates a bullish view, as it engulfs the red candle. A bullish engulfing pattern usually occurs at the bottom of a trend. The stock has support at Rs 23 and faces resistance at Rs 36. Given the chart formation, the counter can move to Rs 34 - Rs 35 levels. CLICK HERE TO VIEW CHART

Reliance Naval (RNAVAL): The stock lost the investors' attention once it slipped below Rs 10. The trading volume, too, is thin and a significant rise going ahead is unlikely. It essentially needs to consolidate around the current levels before gaining momentum.  CLICK HERE TO VIEW CHART

Reliance Power (RPOWER): The stock witnessed a steep fall when it breached support of Rs 22 level, as per daily chart. The RSI (Relative Strength Index) is trading in the oversold region and MACD is in process of making positive crossover. It has support at Rs 9.50 and faces resistance at Rs 16 levels. CLICK HERE TO VIEW CHART

Reliance Infra (RELINFRA): Delivery volumes are not too encouraging in this counter. Even in the derivatives segment, the long build-up could not hold the trend for more than three sessions. The Stochastic is trading in negative crossover, with ADX trading around 50 levels. The key levels to watch out for are Rs 105 (support) and Rs 138 (resistance). CLICK HERE TO VIEW CHART

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