Technical Analyst, Ashwani Gujral is of the view that Reliance Industries has support at Rs 1150.

Gujral told CNBC-TV18, "We have had a very sharp rally and now is it very difficult to say whether this is a bull market or a bear market, in the sense that it is now become a trading market. The kind of volatility we have seen over the last few weeks, now the range will start becoming narrower. So Reliance may not make a new low but again the high that it has made yesterday will probably hold. So resistance is around Rs 1,476 and support should come in around Rs 1,150 sorts of levels. So I would not expect this market to make fresh lows but to have narrower and narrower ranges as it trades going forward."