On the weekly charts, Reliance has been correcting after achieving its inverse H&S breakout target at Rs. 1067 and is likely to resume its uptrend towards the next target of Rs. 1130.
The TTO shows Bullish Alignment formation on the charts, indicating the next up move is likely to be swift and impulsive.
There is a possibility of Reliance moving to higher levels of Rs. 1500 in the next few months, coinciding with the launch of its 4G services.
