Price broke out of the resistance (previous high) level and then a pullback towards the breakout line was seen till yesterday. Today at the second half of the trading session, price shot up from the breakout line. 1387 is the immediate . Expiry is close by. As per OI Table immediate resistance is at 1400 where bears have built huge position by writing Calls --total 1838500 shares. Strong support has been built by bulls at 1360 Put strike -- total 1510500 shares written. So buy close to 1365 and sell at around 1390. Strong sentiment is prevailing. Reliance is a Breakout stock. It gave first breakout in the year of 2016 after a consolidation of approximately 13 years. And since then all midterm consolidations are producing tradeable breakouts. RIL is a multiple breakout stock.
Comment: PS: A Negative Divergence on MACD indicator has be ignored by the bulls.