Reliance Industries may cross Rs 1100, says Prakash Diwan

Prakash Diwan of Altamount Capital Management told CNBC-TV18, "In Reliance Industries, the trend has been triggered off from the day of the annual general meeting (AGM), there is no stopping kind of appetite that it has attracted. Under ownership is one of the reasons why it is happening in the accelerated way while whatever happens to the indices, Reliance has set it's trend high. In every day trade there has been some activity and some uptick in the price action as well. So this will continue."

"We have an expectation that this would cross Rs 1,100 by the time we are in the mid of the earnings season. Hopeful if gross refining margin (GRM) does not disappoint, the stock could get a reaffirmation of sorts in this trajectory," he said.

Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com