Reliance Option Chain Strategy Today (28 April Expiry)
| Trade |
Buy Zone |
Target |
Stop Loss |
| Reliance 1400 CE Buy |
Rs. 26 – 29 |
Rs. 40 / 52 |
Rs. 18 |
| Reliance 1380 PE Buy |
Rs. 40 – 44 |
Rs. 60 / 75 |
Rs. 30 |
👉 Execution Plan:
• Buy 1400 CE only if Reliance sustains above 1390–1395
• Add on strength if price crosses 1400 decisively
• Buy 1380 PE only if Reliance slips below 1370–1365
• Avoid aggressive trades in the 1375–1390 middle zone
Why This Strategy? (Simple Reasoning)
| Factor |
Reading |
Interpretation |
| Last Close |
1369.20 |
Stock ended weak |
| Short Term Trend |
Bearish |
Near-term pressure remains |
| Medium Term Trend |
Bearish |
Pullbacks may face selling |
| Long Term Trend |
Bullish |
Bigger structure still supportive |
| RSI |
43.79 |
Momentum weak, not oversold |
| MACD |
Negative |
Bearish momentum active |
| ADX |
25.69 |
Trend strength is rising |
| ATR |
33.94 |
Expect sharp moves |
👉 Conclusion:
Reliance remains technically weak, but a bounce toward resistance is still possible.
So the setup is simple: CE Buy on breakout / PE Buy on failed bounce or breakdown.
Reliance Support and Resistance from Option Chain
| Type |
Levels |
| Immediate Support |
1360 – 1350 |
| Strong Support |
1330 – 1320 |
| Immediate Resistance |
1390 – 1400 |
| Strong Resistance |
1410 – 1430 |
👉 1350 = Important Put support
👉 1400 = Major Call hurdle
Reliance PCR Analysis Today
| Strike |
PCR-OI |
Interpretation |
| 1350 |
1.87 |
Strong support zone |
| 1360 |
0.95 |
Balanced zone |
| 1370 |
0.76 |
Weak support |
| 1380 |
0.75 |
Weak structure |
| 1390 |
0.30 |
Heavy resistance |
| 1400 |
0.40 |
Strong call pressure |
| 1410 |
0.33 |
Upside still capped |
👉 Interpretation:
• Stronger support is visible only near 1350–1360
• Higher strikes show heavy call-side pressure
• Structure suggests bounce possible, but upside not fully free
👉 Bias: Bearish-to-neutral
Reliance Max Pain Today
| Metric |
Level |
| Max Pain Zone |
1370 – 1380 |
👉 Price may initially rotate near this zone
👉 Above 1400 → short covering possible
👉 Below 1365 → weakness can expand quickly
Reliance Intraday Strategy (Option Chain Based)
| Item |
View |
| Strategy |
CE Buy on breakout / PE Buy on breakdown |
| Market Structure |
Weak trend with bounceback attempts |
| Best Upside Trigger |
1395 – 1400 |
| Best Downside Trigger |
1370 – 1365 |
| No Trade Zone |
1375 – 1390 |
👉 Trading Logic:
• Stock is below major moving averages
• Trend remains weak unless 1400 is reclaimed
• Breakdown below 1365 can trigger faster put-side momentum
Pivot Levels (Key Reference)
| Level Type |
Value |
| Immediate Resistance |
1381.43 |
| Pivot |
1372.17 |
| Immediate Support |
1359.93 |
| Strong Support |
1350.67 |
Pro-Level Upgrade (What Big Players Do)
| Pro Setup |
View |
| Bias |
Sell on rise / Breakdown continuation |
| Setup |
1400 CE Buy / 1380 PE Buy |
| Key Trigger |
1395 upside / 1365 downside |
| Risk |
ATR ~ 34 → fast swings possible |
Smart Money Insight
| Observation |
Meaning |
| Heavy Call writing near 1400 |
Sellers defending upside |
| Put support stronger at 1350 |
Downside cushion exists below |
| Price below major averages |
Trend traders stay cautious |
| Mid-zone premiums decay fast |
Avoid random entries |
👉 Pro Insight:
Best trade is not in the middle —
It is either above 1395 or below 1365.
Final Trading View
| Item |
View |
| Trend |
Bearish |
| Option Chain Bias |
Resistance-heavy |
| Best Bullish Trigger |
Above 1395–1400 |
| Best Bearish Trigger |
Below 1365 |
| Trading Style |
Wait for confirmation |
Reliance remains under short-term pressure, and option chain structure clearly shows sellers active on upside levels.
👉 Key takeaway:
• 1395 = upside trigger
• 1365 = downside trigger
• Trade only confirmed move
• Avoid random entries in between
👉 Expected Day Structure: Volatile with sell-on-rise bias.
