If you had looked either into the Daily or Weekly charts of Reliance there is too much noise in the charts. The another way to filter out the noise from the system is by choosing the higher timeframe to know about the exact information about the trend. So when we look into the montly charts of reliance along with the Ichimoku charts we could find that reliance after testing the montly resistance zone Since the start of June, 2009 to till date it is moving sideways fashion with a slow transition from Bear to the Bull market. And currently its trading above the montly resistance cloud by bulding a strong base near 980 levels.
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