RIL corrects over 6% in three days

14 Jun 2022 , 02:19 PM

Shares of index heavyweight have fallen 6.09% in three trading sessions from its recent closing high of Rs 2798.60 on 9 June 2022. In the past one year, the stock has jumped 17.05% while the benchmark Sensex has risen 0.12% during the same period. On the technical front, the stocks daily RSI (relative strength index) stood at 47.757. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. On the daily chart, the stock was trading below its 50-day, 100-day and 200-day simple moving average (SMA) placed at 2637.50, 2526.97 and 2496.08, respectively. Reliance Industries is a Fortune 500 company and the largest private sector corporation in India. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services. On a consolidated basis, RIL reported 20.2% increase in net profit to Rs 18,021 crore on 38.64% rise in net sales to Rs 207,375 crore in Q4 FY22 over Q4 FY21. Powered by Capital Market – Live News