Reliance Industries - 2700 to 2800 this year?

Technical viewpoint
Reliance Industries is in a parallel down-trend zone since late July 2020, that is about 10 months.
On Friday reliance had the highest OI in FnO June series with roughly 132000 contracts volume .
On the same day the stock shot up 6% and crossed 20, 100 & 200 DMA.
Currrently it is trading just below 0.5 Fibo levels. So a profit booking on the immediate is expected with a support on levels 2040 and 2020.

Options' Data
On the 1st trading session of June FnO series, a huge OI increment can be seen @ strike 2200 with total OI 12155 contracts followed by strike 2100 and 2300 respectively.
Current Put-TO-Call ratio is 0.5 which is bullish .

My own psychology
Reliance is the most heavy-weight stock in our Indian stock market with the highest weightage in Nifty 50. As nifty 40 closed @ all time high in the last trading session, only about 6-7 stock out of 50 are trading on their all-time high levels while reliance is almost 13% below its all time high. To give you an idea about how powerful RIL is, on Friday and nifty closed about 97points higher and RIL contributed about 91 points out of 97 points alone.
Also Nifty Energy index is at almost al-time high and again RIL is the most heavy-weight stock in the index. Since all time highs can be seen as a potential resistance for the market, nifty may come down to 15100, 15000, 14800 & 14700 levels. Though the probability of this fall turning out to be true is very less but not impossible. But in any way, RIL has to shot up some more % to come to the all time highs.
Comment: Bought 100% qty with SL below 2000 and 2 months target of 2555
Comment: A correction, Its nifty50 not Nifty40. I was feeling very sleepy while posting this so please forgive this mistake

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