RIL, TV18 Broadcast: How to trade Reliance group stocks post 2nd KKR deal

Shares of Reliance Industries (RIL) soared 3 per cent to Rs 2,276.50 on the BSE on Wednesday in intra-day trade, after the company announced that global investment firm KKR will invest Rs 5,550 crore in Reliance Retail Ventures (RRVL) for 1.28 per cent equity share. This marks the second investment by KKR in a Reliance subsidiary, following a Rs 11,367 crore investment in Jio Platforms announced earlier in 2020. READ MORE

Following the development, other group stocks were also trading higher. While Den Networks was up over 1 per cent at Rs 70 on the BSE, Hathway Cable & Datacom traded 2 per cent higher at Rs 30.5. Meanwhile, TV18 Broadcast was unchanged at Rs 29.55.

Here's a look at how RIL and other group stocks look on charts and how you should trade them.

Reliance Industries Ltd (RELIANCE): The medium-term trend is highly optimistic with a breakout above Rs 2,200 levels. The stock is seeing a minor hurdle around Rs 2,340. A firm close above this resistance may open doors for it to reach Rs 2,500 levels. The immediate support comes in at Rs 2,200 levels followed by Rs 2,180 mark, which is its 50-day moving average (DMA). CLICK HERE FOR THE CHART
 
TV18 Broadcast Ltd (TV18BRDCST): The moment this counter slipped below 50-DMA placed at Rs 34.20 earlier, the trend turned weak, leading to the breach of 100-DMA currently located at Rs 30.80 levels. The stock is gradually correcting with technical indicators falling into a negative crossover. The momentum and strength is low. Till the price stays below Rs 34, the downside may also see an addition in volume, which can drag the stock further. CLICK HERE FOR THE CHART
 
Network18 Media & Investments Limited (NETWORK18): The gap down witnessed on Tuesday with the heavy volume has dented the up move. The trend exhibits weakness in the direction of Rs 30.35 levels, which is its 200-DMA. On the higher side, the counter needs to cross the hurdle of Rs 38 to witness a trend reversal to positive. CLICK HERE FOR THE CHART
 
Hathway Cable & Datacom Limited (HATHWAY): The continuous gap down sessions from Rs 51 level has destroyed the upside bias. The stock has broken 50-DMA and 100-DMA and is now moving towards the 200-DMA placed at Rs 25.70 levels.  The immediate resistance is at 100-DMA placed at Rs 33.20 levels. CLICK HERE FOR THE CHART
 
Den Networks (DEN): The "Head and Shoulder" breakdown clearly shows a negative sentiment, as per the weekly chart. The price is heading towards Rs 60 and then Rs 57 levels. The technical indicators - moving average convergence divergence (MACD) and relative strength index (RSI) - have made negative crossover, indicating bearish sentiment. The immediate resistance comes in at Rs 73 levels. CLICK HERE FOR THE CHART
 
Hathway Bhawani Cabletel and Datacom Ltd (509073): The counter is in Trade-to-Trade sub-segment with illiquid volumes. The support comes in at Rs 18 and the upside resistance falls at Rs 19.70 level. CLICK HERE FOR THE CHART