Reliance Industries (RIL) rose 1.22% to Rs 1,981.95, extending gains for the second consecutive session.
Shares of RIL have gained 1.81% in two trading sessions from a recent closing low of Rs 1,946.55 on 4 December 2020.
On the technical front, the stock's RSI (relative strength index) stood at 50.802. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading between its 50-day moving average (DMA) placed at 2,063.86 and its 200-day moving average (DMA) placed at 1,766.34.
The stock has soared 128.38% from its 52-week low of Rs 867.82 on 23 March 2020.
RIL's consolidated net profit fell 6.6% to Rs 10,602 crore on 25.5% decline in net sales to Rs 1,11,236 crore in Q2 September 2020 over Q2 September 2019.
RIL is India's largest private sector company. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.
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