Can RIL slip below Rs 1,000 levels? Here's what technical charts suggest

As It began successfully trading above 200 DMA, the counter has more than doubled rising 175 per cent to Rs 1,417

Reliance Industries (RIL) breached the 200-day moving average (DMA) after February 2017 in trade on Wednesday. The stock is one of the strong constituents of benchmark indices that has a weightage of 8.93 per cent. It ranks second after HDFC Bank that has a weightage of 10.99 per cent in the Nifty 50.  Hence, a significant move on either side has the potential of having a major impact on the benchmark indices.

From February 2017, as it began successfully trading above 200 DMA, the counter has more than doubled - rising 175 per cent to hit Rs 1,417 as a lifetime