Technical Analyst, Ashwani Gujral is of the view that Reliance Industries is broadly rangebound between Rs 1,900 and Rs 2,200.
Gujral told CNBC-TV18, "Reliance Industries is broadly rangebound between Rs 1,900 and Rs 2,200. As soon as the stock hit Rs 2,200, there has been some reaction. It will take some time for crossing Rs 2,222-2,230 kind of levels. So probably some more good news could take it beyond it. But really Reliance needs to move upwards of Rs 2,200 in order to continue this run. The key thing about today and yesterday about Nifty is that it is become in a very small range, 5,050 to 5,110. So a big move is likely. So which ever way this range breaks down, you will likely to get a large move."
