Reliance Industries may go above Rs 1100: Jai Bala

Jai Bala of Cashthechaos.com told CNBC-TV18, "Reliance Industries has been coiling up into a very big range from a very long term perspective. If you look at it from a very long term perspective the final leg of the coil is completely done. Once the stock were to take out Rs 1100 which I think it will do in the next 2-3 weeks, it is a free run for the stock. I think it is going to lead the market from the front.""Once you see a close above Rs 1100, somewhere between Rs 1700-2200 is the potential for the stock from a 9-12 months perspective or slightly longer than that. So, it is a very interesting stock and it is very interestingly poised. It is going to be key for the overall market strength and overall leadership of the market," he added.Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com.