Reliance Industries jumps 11.6% after Q2 profit rises 33.8%

Reliance Industries closed 11.6% higher at Rs 1,300 after its Q2 results, with Rs 1,345 as resistance and Rs 1,114 as support in focus. Reliance Industries Limited [

] closed at Rs 1,300 on Monday, 2 November 2026, up 11.6% on the NSE. It is the biggest single-day gain since 7 April 2020, when the stock closed 11.94% higher. The move followed the Q2 results. Consolidated profit rose 33.8% to Rs 29,550 crore from Rs 22,092 crore. Revenue grew 27.8% to Rs 3.62 lakh crore from Rs 2.83 lakh crore. EBITDA increased 23.9% to Rs 62,409 crore. EBITDA margin eased to 17.2% from 17.8%. The stock made a fresh 52-week low in mid October 2026, after a 28.5% fall from the January 2026 peak. Today’s candle opened at Rs 1,228.1, closed at its high, and volume rose to 88.12 million shares. RSI is at 65.78, above its average of 45.28, which shows momentum turning up. What next: Rs 1,345 is the nearby resistance and Rs 1,114 is the strong support. The earlier double top pattern still exists, so consecutive closes above Rs 1,345 may decide the next direction. Conclusion: Event based momentum may signal a change in market structure, but the market may need follow-up buying to confirm it. Disclaimer: I, Akhilesh Jat (SEBI RA Reg. No. INH000016649), do not hold any position in the stock discussed. This content is informational, not a recommendation. Investments in securities are subject to market risks. Read all related documents carefully before investing.