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What's in store for Reliance Industries' stock post the 44th AGM?

From a medium-term perspective, the 200-daily moving average (DMA) and 50-weekly moving average (WMA) together indicate support at Rs 2,050 levels

RIL Chairman Mukesh Ambani
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RIL Chairman Mukesh Ambani

Avdhut Bagkar Mumbai
Shares of Reliance Industries (RIL) ended 2.3 per cent lower at Rs 2,153.50 on BSE on Thursday in an otherwise strong market.

The Mukesh Ambani-controlled company held its 44th annual general meeting (AGM) on Thursday. The stock of the country’s most valuable company hit a high of Rs 2,214.80 and low of Rs 2,140 in intra-day trade. In comparison, the S&P BSE Sensex ended 0.75 per cent higher at 52,699 levels.

The stock has now dipped for the third day in a row, falling around 4 per cent during this period and wiping off nearly Rs 53,000 crore