Oil-to-telecoms giant Reliance Industries's shares gained as much as 1.36 per cent to ₹1,145, highest since Dec. 19
The stock breaking above a resistance at ₹ 1,124.5, the 23.6 per cent Fibonacci projection level of the uptrend from Feb. 6, 2018 low to Aug. 29, 2018 high suggests, it may rise up to the next resistance at ₹ 1,191.38, the 38.2 per cent projection level.
Stock broke out of a triangular pattern on Tuesday, seen favorable for the stock. The moving average convergence/divergence ( MACD) turns positive and is above its signal line
The Stock is up 19.02 per cent in the past one year as of Tuesday's close, compared with the broader NSE Index's 1.35 per cent gains in the same period