Masterstroke by Mukesh Ambani as Reliance boss may sell these items through Reliance Retail

Mukesh Ambani's twins Akash Ambani and Isha Ambani are celebrating their birthday on October 23 (Wednesday). However, just before their special day, Reliance Industries' stock saw a drop of 1.86% (Rs 50.95), closing at Rs 2,687.30. This decline resulted in a significant market capitalization loss of Rs 34,473.43 crore, bringing the company's market cap down to Rs 18,18,262.08 crore from Rs 18,52,735.51 crore the previous day.

As of October 22, 4:02 PM, Reliance Industries' shares were trading at Rs 2,687.30, down 1.86% from the prior close. The Sensex index also experienced a decline, trading at Rs 80,220.72, down 1.15%. Throughout the day, Reliance's stock reached a high of Rs 2,751.90 and a low of Rs 2,680.80.

On the technical side, Reliance’s stock is currently trading below several key short-term and long-term simple moving averages, including the 5, 10, 20, 50, 100, and 300-day averages.