Anil Ambani managed Reliance Communications, country’s second biggest wireless operator, has announced a mobile plan christened ‘Rs 550 Jaadu Pack’ that is set to re-define the mobile telephony market in Indian market. 

With this newly introduced plan, pre-paid subscribers with lifetime validity would now be able to make local calls at just 50 paise per minute and STD calls to any phone anywhere in India at just Re 1 for lifetime by making a one-time payment of just Rs 550.

A leading technical analyst has suggested the investors to avoid the counter. The counter is not impressive on the charts and investors can exit at 220 levels.

He expects that the company, still being a conglomerate, may under perform in a bearish market environment.

Reliance Communications has dropped over 36% in last one month. The stock today touched its 52-week-low of Rs 230 and finally settled the day, marginally above its low figure at Rs 235, down 12% from its previous close.