The scrip has made H&S formation on daily charts and any close below present levels may take Reliance to Rs. 780 which may drag Nifty down considerably. Hence, it is important that the levels of Rs. 980 for Reliance are maintained. The bulls will have to use all their might to protect these levels.
Though the scrip has shown some divergence at the lower levels, we will have wait to see if the scrip reverses from the present levels.
