Tata Steel saw a rounding base formation on the daily chart. It also formed a strong bull candle with high volumes, which suggests the momentum on the upside is likely to continue.
Reliance Industries has seen trading in an upwards sloping parallel channel pattern and has been trading with higher top and higher bottom formation since last few weeks.
After correcting from a high of Rs 96, SAIL found support at Rs 90 level. These are strong supports, as they correspond to intermediate highs tested in the previous month.
Titan Company rallied to Rs 3,200 level in July from Rs 2,330 level in March. The stock has retraced back to the support level of Rs 2,950, where its 50-SMA is placed at.
Reliance-JFSL Demerger Update: Shares of Reliance Industries Ltd settled at Rs 2,580 in the special pre-open session on Thursday. This is the discovered price (opening price) for RIL (ex-financials) at 10 am. For Jio Financial Services or JFS, the share price is derived at Rs 261.85.