The Economic Times

RIL nears technical breakout amid Jio IPO buzz: Anand James shares the outlook

Reliance Industries shares are showing early signs of a technical turnaround as investor attention remains focused on the planned Jio Platforms IPO. The stock has moved above its 10-day simple moving average for consecutive sessions for the first time since early September, while a broadening-wedge pattern is nearing an upside breakout. However, the recovery faces a key test near 1,220. Anand James, Chief Market Strategist at Geojit Investments, said the resistance could limit the immediate upside even as momentum indicators point to a maturing reversal setup.