Technical Analyst, Rajat K Bose is of the view that Rs 2,640 is the critical deciding level for Reliance Industries, if it were to cross that then the first projection that he can make is Rs 2,850 to Rs 2,900.

Bose told CNBC-TV18, "Reliance Industries, Rs 2,640 is the critical deciding level for Reliance, in the recent past it went above that and touched may be Rs 2,700 but could not really sustain and came down. This time if there is a deceive breakout above Rs 2,640 then chances are that we would see something like Rs 2,850 to Rs 2,900 and if one takes, say a five-months perspective then on January 22, Reliance posted a low of Rs 2,110 and then again around March 18 there was a low of Rs 2,110 or Rs 2,120, so the intervening top was actually Rs 2,640 between them."
 
He further added, "So this level is very critical and if it were to cross that then the first projection that I can make is Rs 2,850 to Rs 2,900 and if the goings are really good then we might see even higher levels for Reliance in the next one-month to one-and-half months."

Disclosure: It is safe to assume that analyst and his clients may have an interest in the stocks/sectors discussed.