Reliance Industries have been in a strong downturn range as shown in the chart. Unable to break the upper trend line has created weakness in this script.If sustains below 1940 there would be further fall. To show strength and take positions RIL needs to close above 2090.
With the crude falling, Left withdrawal, World markets being strong, in all alot of parameters being in favor of the market now, we can expect RIL also to break out. But being a heavy weight we need to be cautious of its movement. It alone has the capacity to pull the market down as we have seen in the last two days.
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