Talking on the technical front, Vipin Kumar, Associate Vice President of Globe Capital Markets, said that the shares of Reliance Industries witnessed a vertical rise from the support level of 1,150 following the announcement of its quarterly numbers. “At the current juncture, it is trading on the verge of a fresh breakout from the confluence zone of its price and moving average resistance at 1,340 levels. Going ahead, a decisive close above 1,340 levels will be a positive development that could push the stock towards the 1,460–1,470 zone in the short to medium term,” he added.