www.rupeedesk.in
The rally in the stocks of Reliance Communications Ltd is over now and the stock is expected to see steady corrections in the coming sessions. The stock has rallied as high as 117 rupees in the last two months, as the sentiment around it has remained positive, aided by prospects of a possible tower-sharing deal with Reliance Industries and a stake sale in its arm, Reliance Globalcom. These moves, if successful, will help bring down Reliance Communications' burgeoning debt. The Relative Strength Index of the stock has shown weakness indicating the underlying strength remains weak. Relative Strength Index is an indicator that measures the speed and change in price movements. In the current week, the stock has declined 1.7% to 106.40 rupees Bharti Airtel Ltd is expected to continue trading with a bearish bias, while Idea Cellular Ltd is expected to trade sideways in a narrow range.
