RELIANCE

Reliance
The chart view
The stock faces resistance at 1082 (5 DMA) and then at 1120 as marked in charts and then at 1146 levels. After the recent down move the stock might have formed a bearish pennant. The support comes at 1042 levels which is the gap support and then at 1033 which is the 100 DMA
OI data
There is decent amount of call writing at 1110 and at higher levels which suggests that reliance will find it difficult to move above 1110 and higher.
There is decent put writing at 1050 and at 1010 levels which suggests support t the aforementioned levels of 1042-1033.
ALL IN ALL A TIGHT RANGE OF 1042-1120
Big move possible only after the stock breaks this range.