Reliance weekly
Reliance after a long time showed a bullish weekly candle and that too with good volumes and out of the total traded quantity on NSE 40% has been delivery volumes. The stock has also closed above an important resistance of 2111 and now faces resistance at 2140 along with resistance in the momentum line as shown in the chart.
OI data
1> The 2100 calls which is in the money call has seen increase in OI thus suggesting support at 2100.
2> The 2100 puts also have shown good increase in OI thus suggesting support at 2100
Closing above the resistance level of 2140 leads to a possible target of 2220 and at the same time close below 2080 will turn out to be bearish for the stock.
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