Reliance Targets Today

Reliance Today at a Glance

Reliance Share Price Prediction

Reliance may consolidate between Rs. 1,300 and Rs. 1,320 after its 2.51% recovery. The stock closed above its pivot and short-term moving averages but remains below the 20-day SMA of Rs. 1,310.26, 89-day SMA of Rs. 1,323.09 and Parabolic SAR at Rs. 1,329.91.

A sustained breakout above Rs. 1,320–Rs. 1,330 is required to confirm further recovery. Failure to protect Rs. 1,300 could restart weakness towards Rs. 1,289 and Rs. 1,268.

Market Probability

The option chain shows Call unwinding at Rs. 1,300 and fresh Put addition near Rs. 1,310, indicating an attempted recovery. However, sizeable Call Open Interest at Rs. 1,320 continues to restrict the upside.

Bullish Scenario

Reliance can turn positive if it sustains above Rs. 1,320–Rs. 1,321. Such a breakout may lift the stock towards Rs. 1,332 and Rs. 1,344. Sustaining above Rs. 1,344 could extend the recovery towards Rs. 1,364.

The bullish scenario requires Call unwinding at Rs. 1,320 and Rs. 1,330, accompanied by fresh Put writing above Rs. 1,300. Until this shift occurs, the rise should be treated as a technical rebound within a broader bearish structure.

Bearish Scenario

A decisive break below Rs. 1,300 would weaken the recovery and expose Reliance to Rs. 1,289 and Rs. 1,280. Further selling below Rs. 1,280 may extend the decline towards Rs. 1,268 and Rs. 1,250.

MACD remains negative at -3.12, with a histogram of -2.83. DMI Minus at 22.77 is above DMI Plus at 15.25, confirming that sellers retain an underlying advantage. All three recorded trends—short, medium and long term—remain bearish.

No-Trade Zone

The no-trade zone is Rs. 1,300–Rs. 1,320. Price movement within this band may remain choppy because the Rs. 1,300 strike carries substantial Call and Put positions, while Rs. 1,320 has one of the strongest Call Open Interest concentrations.

Option buyers should wait for a confirmed breakout because time decay may erode premiums during range-bound trading.

Key Reliance Levels

Reliance Option Strategy – 29 September Expiry

Bearish strategy below Rs. 1,300: Buy the Rs. 1,300 Put and sell the Rs. 1,280 Put. Based on the supplied closing premiums, the spread has an indicative net cost of approximately Rs. 7.30.

This defined-risk bear-put spread should be initiated only after Reliance sustains below Rs. 1,300. Exit if the stock recovers above Rs. 1,320.

Bullish alternative: Above Rs. 1,320, traders may consider buying the Rs. 1,320 Call and selling the Rs. 1,340 Call.

Why This Trade?

The Rs. 1,300 strike is the principal derivatives pivot. Call unwinding suggests reduced immediate resistance, but Put unwinding at the same strike weakens its support quality. Fresh Put addition at Rs. 1,310 offers some recovery support, while heavy Calls at Rs. 1,320 cap the upside.

RSI at 51.46 is neutral, while ADX at 15.79 indicates weak trend strength. This favours a breakout-based spread rather than an aggressive naked option trade.

Final Verdict

Reliance remains range-bound to bearish below Rs. 1,320. Trade only after a breakdown below Rs. 1,300 or a sustained breakout above Rs. 1,320.

Paresh Gordhandas View

Rs. 1,300 is the decisive support and Rs. 1,320 is the immediate ceiling. Avoid trading inside this narrow range. Prefer a bear-put spread below Rs. 1,300, while bullish positions require sustained trading above Rs. 1,320 with Call unwinding