Reliance Industries is exhibiting positive technical signals. It has recently closed above its major resistance at Rs 2,593, indicating a fresh weekly breakout with increasing volume.
Shares of textiles manufacturer Alok Industries rallied almost 16 percent in trade on Friday, spiking for the 3rd time this week, after Reliance Industries invested ₹3,300 crore in the company.
Nifty 2024 target. In its base case, Nomura factors in continued disinflation and a fall in yields, a modest growth slowdown globally, benign oil prices and a favourable outcome of the 2024 general elections.
RIL share price: The stock has been out of limelight for over two years, as it digested strong rally during 2020-21. It is now poised to conclude this consolidation and expected to lead Nifty in 2024.