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Is Reliance Industries' stock consolidating ahead of its next big up move?

Mukesh Ambani-led Reliance Industries (RIL) topped the Fortune India-500 list for the second straight year on Tuesday, accounting for seven per cent of cumulative revenues and 11 per cent profit of the companies featured. Despite the feat, the stock slipped 0.9 per cent in Wednesday’s session to hit an intra-day low of Rs 1,935 on the BSE. RIL has been on a roll at the bourses and has been one of the best performers on the BSE ever since the markets began recovering from March 2020 lows. From its 52-week low of Rs 868 – hit on March 23 – the stock has zoomed a massive 1.....

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