Reliance shares see volume breakout: Is a trend reversal around the corner? Here's what history shows

What happened

Reliance Industries shares surged nearly 12% on Monday, 2 November, their strongest single-day performance since April 2020, adding almost Rs.2 lakh crore to market value. On Tuesday the stock ended 0.55% higher at Rs.1,306.20 on the BSE after falling over 1% on profit-booking.

Confirmed

Global impact / market context

A nearly 12% jump lifts the company's market value and may lower the cost of raising fresh money. But shares remain over 17% lower in 2026, so the rally may be a sharp rebound rather than a lasting recovery.

Analyst inference

Trading volume rose sharply alongside the price move, meaning more shares changed hands, which suggests stronger conviction than a quiet bounce. Analysts cite improving technical indicators, solid quarterly earnings and possible value unlocking from Jio Platforms as supports.

Analyst inference

What to watch

1. Whether Reliance shares hold above the downward-sloping trendline they recently crossed, since staying above it would suggest selling pressure is easing. Confirmed
2. Watch for any concrete announcement on value unlocking from Jio Platforms, which analysts say could support the stock's next move. Proposed
3. Track whether trading volumes stay elevated on up days; fading volume would weaken the case that the surge marks a lasting trend reversal. Analyst inference

Evidence

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