Reliance

Breakout of the previous high and also above resistance line of the Pitchfork. OI Table: Bears are running for cover. Bears have shifted their position of resistance from 1240 Call to 1300 Call which is the second highest OI. Still bears have some reasonable position at 1240 Call strike. So if bulls can push price above 1240-42 level and hold onto the same, RIL can see a free run beyond 1260-70. There are Negative Divergences on all major Indicators, yet trend may supervene. At the most due to divergence, some consolidation can come which will give ammo to bulls. RIL is a long term breakout stock.