5 hrs ago
RIIL Shares Jump 9% as Analyst Warns of Further Declines
RIIL shares rose sharply on Wednesday, even though the broader market was down.
The shares reached ₹740 in morning trading.
More than five times the usual number of shares were traded.
The article does not say what caused the jump.
The stock has fallen 13% so far this year.
Its latest reported quarter showed lower income and profit than a year earlier.
Analyst Aditya Thukral thinks the share price may keep falling for some time.
He said ₹720 to ₹780 could be a difficult range for the stock to move above.
He advised existing investors to consider leaving near that range and said new buyers should wait for signs the decline is ending.
Reliance Industrial Infrastructure shares rose as much as 8.7% to ₹740 in morning trade on Wednesday, 7 October.
The stock was up for a second consecutive session, while the Sensex fell 0.75%.
Trading volume was more than five times higher than usual, but the article did not identify a reason for the surge.
RIIL is down 13% year to date and has gained 6% so far in October after falling 10% in September.
Analyst Aditya Thukral said the correction may continue and identified ₹720–₹780 as a resistance zone.
- Who
- Reliance Industrial Infrastructure (RIIL) and analyst Aditya Thukral.
- What
- RIIL shares rose as much as 8.7%, while Thukral warned that the stock's correction may continue.
- Where
- On the BSE.
- When
- Wednesday, 7 October; the year is not specified.
- Why
- The article does not state what triggered the share-price surge.
Recent share-price momentum
Analyst's cautious outlook
Near-term direction
Recent share-price momentum
RIIL rose for a second consecutive session, gaining as much as 8.7% in morning trade, with trading volume more than five times higher.
Analyst's cautious outlook
Aditya Thukral said the stock remains in a correction and that rallies may be sold until the decline is complete.
Investor decisions
Recent share-price momentum
The sharp rise and October gain show recent upward movement in the share price.
Analyst's cautious outlook
Thukral described ₹720–₹780 as a resistance zone, advised existing investors to consider exiting near it, and said fresh long positions should wait for signs the correction has ended.
Key facts
- Intraday high
- ₹740, up 8.7% from the previous close of ₹680.55
- Opening price
- ₹682
- Trading volume
- More than five times higher
- Sensex move
- Down 0.75% during the session
- Year-to-date performance
- RIIL down 13%; Sensex down 14%
- Q1FY27 total income
- ₹14.92 crore, down 18.4% year on year from ₹18.28 crore
- Q1FY27 net profit
- ₹2.84 crore, down 8.4% year on year from ₹3.10 crore
- Analyst's resistance zone
- ₹720–₹780
Quotes
Aditya Thukral
Founder and analyst at AT Research and Risk Managers.
“The stock is in corrective mode, which is expected to continue for some more months before the stock can find a bottom. Existing investors should try to exit near the resistance zone of ₹720 to ₹780. Fresh longs should only be executed once we start getting clues of completion of the correction.”
livemint.com
“All the rallies will continue to get sold off till the time another leg of correction is completed on the downside. The stock is trading below all the major EMAs and is now approaching a resistance zone, which could be an exit opportunity for longs.”
livemint.com
Sources
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