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The stock of Reliance Industries took support at its key base band between ₹885 and ₹890 and closed on a positive note. With this reversal, the stock’s near-term uptrend remains intact. The indicators and oscillators in the daily chart have just entered the positive territory. The stock can extend its rally and test resistance at ₹925 initially. Only a conclusive rally above this resistance will pave way for an up move to ₹945 and then to ₹960 in the coming weeks. Traders with a short-term outlook can buy the stock with a stop-loss placed at ₹890. Investors with a medium-term perspective can also buy the stock with a stop-loss at ₹860 levels. But failure to rally above ₹925 will keep the stock moving sideways between ₹880 and ₹925. Key supports below ₹900 are at ₹880 and ₹860 levels.
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