RELIANCE INDS Weekly Elliot Wave Analysis
Reliance Previous High was @ 1617.55 level,last week Price closed around 1561.80 levels.
Reliance still seems to be in uptrend direction till 1677.60 to 1700 level.
We are still in the 5th Impulse wave in Reliance.
Two more companies are said to be eyeing stakes in Reliance Jio Platforms, the $65-billion digital unit of Mukesh Ambani-controlled Reliance Industries, suggests a Bloomberg report. If these deals materialise, they would add to a growing list of firms that have recently invested in the Indian company.
US private equity firm General Atlantic was considering investing about $850 million to $950 million in the Mumbai-based company, a Bloomberg report said, citing people with knowledge of the matter.
The deal could be completed as soon as this month, though no agreement had been finalised and plans may change, it added.
Saudi Arabia's Public Investment Fund (PIF) is also considering to buy a minority stake in Jio, Bloomberg said in a separate report.
3 deals in 3 weeks: Mukesh Ambani’s plans on track to make Reliance debt-free despite COVID-19 pandemic
RELIANCE
Reliance Previous High was @ 1617.55 level,last week Price closed around 1561.80 levels.
Reliance still seems to be in uptrend direction till 1677.60 to 1700 level.
We are still in the 5th Impulse wave in Reliance.
Two more companies are said to be eyeing stakes in Reliance Jio Platforms, the $65-billion digital unit of Mukesh Ambani-controlled Reliance Industries, suggests a Bloomberg report. If these deals materialise, they would add to a growing list of firms that have recently invested in the Indian company.
US private equity firm General Atlantic was considering investing about $850 million to $950 million in the Mumbai-based company, a Bloomberg report said, citing people with knowledge of the matter.
The deal could be completed as soon as this month, though no agreement had been finalised and plans may change, it added.
Saudi Arabia's Public Investment Fund (PIF) is also considering to buy a minority stake in Jio, Bloomberg said in a separate report.
3 deals in 3 weeks: Mukesh Ambani’s plans on track to make Reliance debt-free despite COVID-19 pandemic
RELIANCE
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