Reliance jumps 8% after strong Q2 results, Rs 1,275 hurdle

Reliance gained nearly 8% after record Q2 FY27 results and broke the Rs 1,234 to Rs 1,253 zone, with Rs 1,275 as resistance and Rs 1,152 as support. Body (180 words) Reliance Industries Limited [

] gained over 7.7% on 2 November, its sharpest intraday rally since January 2024, after record Q2 FY27 results. The stock broke above the Rs 1,234 to Rs 1,253 resistance zone. Net 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 rose 23.9% to Rs 62,409 crore from Rs 50,367 crore, with the margin at 17.2% against 17.8% a year ago. The results beat consensus estimates. Revenue grew faster than EBITDA, so the margin slipped about 60 basis points, but profit growth was stronger. Oil-to-chemicals led the recovery. The breakout above Rs 1,253 improves momentum. The next hurdle is Rs 1,275, where selling pressure may appear. A close above Rs 1,275 would support further upside, while a failure there may lead to consolidation. Support is Rs 1,152. A fall back below the Rs 1,234 to Rs 1,253 zone would put the breakout in doubt. Volume on the follow-through is the key signal. Holding Rs 1,253 at the close matters. Disclosure: I do not hold any position in this stock. This is not a recommendation to buy or sell. Investments in securities markets are subject to market risks. Read all related documents carefully before investing.