Was thinking the same, Even with Reliance, suggestion/prediction was not to buy, but it went up. True that no can always be right,still..!!
That being said, I believe the market is over-reacting to Reliance results - and as expected, it is going up too much without much basis, as well as going down too much without basis! This is the reason it is better to be afraid when people are greedy, and to be greedy when everyone else is afraid.
20% below its highs is a reasonable level to start accumulating Reliance, even if goes down a bit based on global market volatility.