Reliance Targets Today

Reliance Share Price Prediction: Bearish Bias Below Rs. 1,300

Reliance Industries closed at Rs. 1,279, down 1.23%. The stock is trading below its important moving averages, while negative MACD, weak RSI and substantial Call writing at Rs. 1,300 indicate continued pressure. A recovery is possible from the oversold zone, but Reliance must reclaim Rs. 1,301–1,305 to establish a meaningful bullish reversal.

Today’s Reliance at a Glance

Today’s Reliance Prediction

Reliance is likely to remain under pressure below Rs. 1,290–1,300. The stock is near the lower Bollinger Band of Rs. 1,277.67, while Stochastic, StochRSI and Williams %R are deeply oversold. This could generate an intraday recovery, but the broader structure remains weak.

A breakdown below Rs. 1,266 could drag the stock towards Rs. 1,249 and Rs. 1,231. Conversely, sustained trading above Rs. 1,301 could trigger short covering towards Rs. 1,319–1,336.

Market Probability

Bullish Scenario

Reliance must first cross Rs. 1,290 and then sustain above Rs. 1,301. This would place the stock above its cluster of 20-day, 34-day and 50-day averages near Rs. 1,303–1,305.

A successful breakout could trigger short covering towards Rs. 1,319, followed by Rs. 1,336. The bullish case will strengthen only if Call writers begin unwinding their positions at Rs. 1,300 and Rs. 1,320.

Bearish Scenario

Failure to recover above Rs. 1,290 will maintain the sell-on-rise structure. A decisive break below Rs. 1,266 could expose the 52-week-low region near Rs. 1,250. Below Rs. 1,249, the next technical support is located around Rs. 1,231.

Negative MACD, DMI Minus dominance and weak momentum support the bearish scenario. However, traders should avoid aggressive short positions near support without a confirmed breakdown because the stock is already oversold.

No-Trade Zone

The Rs. 1,273–1,290 range is the no-trade zone. Reliance may witness volatile and directionless movement within this band.

Fresh directional positions should preferably be taken only above Rs. 1,301 or below Rs. 1,266. This confirmation-based approach can reduce the risk of false moves caused by short covering.

Key Reliance Levels

Reliance Option Strategy

29 September 2026 Bear Put Spread

Use this strategy only if Reliance sustains below Rs. 1,273. Exit if the stock recovers decisively above Rs. 1,290.

Why This Trade?

Reliance is below its short-, medium- and long-term averages. MACD stands at −2.81, below its signal line, while DMI Minus exceeds DMI Plus. Heavy Call Open Interest at Rs. 1,300 and Rs. 1,320 creates overhead resistance.

The Bear Put Spread limits the premium outflow and maximum loss compared with buying a naked Put. Its defined-risk structure is suitable because oversold indicators could cause sudden rebounds.

Final Verdict

Reliance remains bearish below Rs. 1,300, with immediate support at Rs. 1,273–1,266. The option chain suggests strong resistance around Rs. 1,300, while technical indicators show weak momentum. Traders should sell on a rise or use a defined-risk bearish strategy only after confirmation below Rs. 1,273.

Paresh Gordhandas View

Reliance is oversold but has not yet shown a trend reversal. Avoid chasing a rebound below Rs. 1,300. A breakdown below Rs. 1,266 can lead to Rs. 1,249–1,231, while a sustained recovery above Rs. 1,301 would invalidate the immediate bearish view.