The rally sparked after the company informed the exchanges that the company enhanced its existing capacity of the yarn business at the Budhni unit in Madhya Pradesh. The disclosure was made on December 29.
Isha Ambani, Akash Ambani and Anant Ambani’s appointment will take effect from the date they assume office after approval by shareholders of Reliance Industries Limited.
A breakout from a descending channel can be visible on a weekly time frame. However, confirmation on a closing basis will be awaited. The big volume bar from short-term EMA support and the MACD indicator getting into the bull zone calls for a trend reversal.
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