Testing time for RIL; will the stock manage to hold its one-year support?

The index heavyweight lost significant ground after breaking its earlier support at Rs 2,600, and now trades 18 per cent lower from its 52-weeks high.

The shares of Reliance Industries (RIL) were down 3 per cent at Rs 2,305 on the BSE in Tuesday's intra-day, falling 7 per cent in the past two trading sessions. A sharp decline in stock price has seen, RIL's market capitalisation decline by Rs 1.17 trillion in past two trading days. READ MORE HERE

Here's how the stock looks on charts:

Reliance Industries Ltd (RELIANCE)
Likely target: Rs 2,500 and Rs 2,600
Upside potential:  7% and 12%

The shares of Reliance Industries are currently trading 18 per cent lower from its 52-week high of Rs 2,751.35.