RIL AGM: How to trade group stocks; check strategy here

Technical charts suggest that Reliance group stocks such as Jio Financial Services, Network18, Just Dial, Alok Industries and Den Networks can crack up to 21 per cent from here.

Shares of Reliance group are likely to hog the limelight in trades on Friday ahead of the flagship firm's 48th Annual General Meeting (AGM) today.  In early deals Friday, Reliance Industries (RIL) stock traded with a gain of 0.5 per cent at ₹1,394 levels. Among the group stocks, Alok Industries, Jio Financial Services and Den Networks were up nearly 1 per cent each. HFCL stock was the sole loser, down 0.2 per cent.  Technical charts suggested a likely weak trend for most of the Reliance group stocks at current levels.  ALSO READ | RIL AGM 2025: Will brokerages reset Reliance Industries target post meet? 

Here's a trading strategy in Reliance group stocks ahead of the 48th RIL AGM

Jio Financial Services

Current Price: ₹312  Likely Target: ₹275  Downside Risk: 11.9%  Support: ₹307; ₹297; ₹290  Resistance: ₹320; ₹325; ₹328  Jio Financial stock has given a downside breakout on the daily chart on August 28. The near-term bias at the counter is likely to remain tepid as long as the stock quotes below ₹328, with interim resistance visible around ₹320 and ₹325 levels. 

 

    On the downside, the stock has near support at ₹307 levels, wherein stands the 50-Month Moving Average (50-MMA). Break and sustained trade below the same can see the stock extend the fall towards ₹275 levels, with interim support likely around ₹297 and ₹290 levels. 

Network18

Current Price: ₹52.59  Likely Target: ₹42.30  Downside Risk: 19.6%  Support: ₹52.51; ₹51.74; ₹48.28  Resistance: ₹56.35; ₹57.20    Network18 stock is seen testing its 100-Day Moving Average (100-DMA) after a gap of three months. The 100-DMA at present stands at ₹52.51 levels, and coincides with the 50-Week Moving Average (50-WMA) at ₹52.70. Break and sustained trade below the same can drag the stock to ₹42.30 levels, shows the medium-term chart.   

 

    Interim support for the stock can be anticipated around ₹51.74 and ₹48.28 levels. Bias at the counter is likely to remain negative as long as the stock trades below ₹57.20; with the 200-DMA at ₹56.35 levels likely to act as a key hurdle.  ALSO READ | Reliance AGM 2025: Focus on IPOs, green energy, and growth outlook 

Just Dial

Current Price: ₹812  Likely Target: ₹640  Downside Risk: 21.2%  Support: ₹800; ₹720  Resistance: ₹830; ₹854  Just Dial stock is seen testing support at its 200-WMA, which stands at ₹819, for the last five weeks. in recent trading sessions. The price-to-moving averages action is clearly in favour of the bears on the daily chart, with the stock trading fairly below the key moving averages.   

 

    As such the short-term bias at the counter is likely to remain negative as long as the stock trades below ₹854, with near resistance likely at ₹830 levels. On the flip side, the stock has near support at ₹800-mark; below which an extended slide towards ₹640 levels cannot be ruled out. Intermediate support for the stock can be anticipated around ₹720 levels, shows the long-term chart. 

Alok Industries

Current Price: ₹17.44  Likely Target: ₹15.73  Downside Risk: 9.8%  Support: ₹16.80  Resistance: ₹18.20; ₹18.69  Alok Industries stock seems on course to test ₹15.73 levels, suggests the medium-term chart. The bias at the counter is likely to remain tepid below ₹18.69, with near resistance likely around ₹18.20 levels. On the downside, the stock may seek support around ₹16.80 levels. 

 

   

Den Networks

Current Price: ₹35.45  Likely Target: ₹30.95  Downside Risk: 12.7%  Support: ₹34.37; ₹32.67  Resistance: ₹35.82; ₹37.34; ₹38.53  Den Networks stock is seen trading below the 100-DMA support for the second straight trading session. On the downside, the stock can crack to ₹30.95 levels, with interim support likely around ₹34.37 and ₹32.67 levels. The 100-DMA at ₹35.82 may act as a near-  term hurdle; above which the 200-DMA at ₹37.34 is likely to act as a stiff resistance. Overall bias to remain tepid below ₹38.53.