Why This Strategy?
| Factor |
Observation |
| Closing Price |
Rs. 1362.10 (slightly above pivot, range zone) |
| Trend |
Short-term bearish, medium-term bearish, long-term bullish |
| Resistance Zone |
1370 – 1380 (heavy call OI build-up visible) |
| RSI |
49.40 (neutral, no strong momentum) |
| Option Data |
Put base at 1340–1350, call wall at 1370–1380 |
Support and Resistance (Option Chain Based)
| Type |
Levels |
| Immediate Support |
1350 – 1340 |
| Strong Support |
1330 – 1325 |
| Immediate Resistance |
1370 – 1380 |
| Strong Resistance |
1390 – 1409 |
Key Levels
| Level Type |
Price |
| Pivot Strike |
1360 |
| Downside Trigger |
1340 |
| Upside Trigger |
1380 |
PCR Analysis Today
| Strike |
PCR |
Interpretation |
| 1330 |
0.52 |
Weak support |
| 1340 |
1.03 |
Strong support forming |
| 1350 |
0.62 |
Mild bearish bias |
| 1360 |
0.50 |
Resistance zone |
| 1370 |
0.31 |
Strong resistance |
| 1380 |
0.22 |
Extreme resistance |
👉 Bias: Bearish below 1340, bullish reversal only above 1380
Max Pain Today
| Metric |
Level |
| Max Pain Zone |
1360 – 1370 |
Intraday Strategy (Option Chain Based)
| Scenario |
Expectation |
Trade Strategy |
| Above 1380 |
Upside toward 1390 / 1409 |
CE Buy |
| Below 1340 |
Downside toward 1330 / 1325 |
PE Buy |
| 1340 – 1380 |
Sideways / Premium decay |
Avoid Trade |
Technical View Today
| Indicator |
Signal |
| Momentum |
Weak recovery inside broader bearish trend |
| Bollinger Band |
Price near mid-band — range setup |
| ADX |
22.00 — moderate trend strength |
| MACD |
Negative but histogram improving |
👉 Trading Meaning: Reliance Industries is trading in a range-bound recovery phase. Strong resistance remains at 1370–1380 where call writers are active. Support is visible at 1340–1350 through put writing. Best strategy is to avoid middle-zone trades and act only on breakout above 1380 or breakdown below 1340.