Updated for 10 July 2026 | 6.00 PM IST
### Today’s Reliance Target & Stop Loss
Reliance Industries remains cautiously bearish for the next trading session despite holding above the crucial Rs. 1,270 support zone. The highest-probability trade is to buy only after a decisive breakout above Rs. 1,293, where short-covering can accelerate towards higher resistance levels. Until then, every pullback is likely to witness selling pressure as the stock continues to trade below all major moving averages. This bullish view will be invalidated if Reliance slips below Rs. 1,270, which could trigger another leg of decline towards Rs. 1,261–1,239. Traders can expect an upside towards Rs. 1,306–1,328 only after a confirmed breakout above Rs. 1,293.
Probability
✅ 65% chance of trading between Rs. 1,270 – 1,293
✅ 25% chance of breakout above Rs. 1,293
❌ 10% chance of sharp decline below Rs. 1,270
Bullish Above: Rs. 1,293
Bearish Below: Rs. 1,270
Expected Range: Rs. 1,270 – 1,305
Best Trade Today: Buy Reliance 1290 CE only above Rs. 1,293. Buy 1280 PE below Rs. 1,270.
### Reliance Levels Today: Support, Resistance, Option Chain & Trade Setup
Reliance closed at Rs. 1,279.80, continuing to trade below its 20, 34, 50, 89 and 200-day moving averages, indicating that the broader trend remains under pressure. Although the short-term trend has turned bullish after defending the recent lows, both the medium-term and long-term trends remain bearish.
The option chain suggests strong Call writing near the 1300 strike, making Rs. 1,293–1,300 an important resistance zone. On the downside, Put open interest is relatively stronger around Rs. 1,270–1,250, providing immediate support. Unless Reliance sustains above Rs. 1,293, traders should avoid aggressive long positions and wait for confirmation before entering fresh trades.
### Key Reliance Levels Today
| Level | Price |
|---|---|
| Support 1 | Rs. 1,270 |
| Support 2 | Rs. 1,261 |
| Pivot | Rs. 1,283.50 |
| Resistance 1 | Rs. 1,293 |
| Resistance 2 | Rs. 1,306 |
| Major Resistance | Rs. 1,328 |
### Chanakya View
👉 Above Rs. 1,293: Buy 1290 CE for targets of Rs. 1,306–1,328.
👉 Above Rs. 1,306: Momentum may accelerate towards Rs. 1,350.
👉 Below Rs. 1,270: Buy 1280 PE for targets of Rs. 1,261–1,239.
👉 Between Rs. 1,270–1,293: Expect consolidation and option premium erosion.
### Reliance Option Chain Strategy Today – 28 July Expiry
| Instrument | Trade | Buy Zone | Target | Stop Loss |
|---|---|---|---|---|
| Reliance 1290 CE | Buy Above Breakout | Rs. 24–27 | Rs. 38 / 50 | Rs. 17 |
| Reliance 1280 PE | Buy Below Support | Rs. 25–28 | Rs. 40 / 55 | Rs. 18 |
| Reliance 1300 CE | Buy Above Rs. 1,306 | Rs. 20–22 | Rs. 34 / 45 | Rs. 15 |
### Why This Trade?
- Reliance remains below all major moving averages from the 20 DMA to the 200 DMA, keeping the broader trend weak.
- MACD (-9.15) remains below its signal line, indicating that bearish momentum has not completely faded.
- ADX (14.92) suggests the current trend is weak, increasing the possibility of range-bound trading unless a breakout occurs.
- RSI at 40.70 reflects mild weakness but is no longer deeply oversold, leaving room for either recovery or another decline.
- DMI (-24.60) remains above DMI (+15.73), indicating sellers still have an advantage.
- Stochastics and Williams %R are in oversold territory, increasing the probability of short-covering if resistance levels are crossed.
- Option chain data shows the highest Call open interest around 1300, making it the key hurdle for bulls.
### Support and Resistance
| Type | Levels |
|---|---|
| Immediate Support | Rs. 1,270 – 1,261 |
| Strong Support | Rs. 1,239 – 1,216 |
| Immediate Resistance | Rs. 1,293 – 1,306 |
| Strong Resistance | Rs. 1,328 – 1,350 |
### Key Trading Levels
| Level Type | Price |
|---|---|
| Pivot Point | Rs. 1,283.50 |
| Downside Trigger | Rs. 1,270 |
| Upside Trigger | Rs. 1,293 |
| Major Resistance | Rs. 1,300 |
| Strong Support | Rs. 1,261 |
### Option Chain Interpretation
| Strike | Interpretation |
|---|---|
| 1270 | Strong Put base emerging |
| 1280 | Immediate support zone |
| 1290 | Key battleground between buyers and sellers |
| 1300 | Heavy Call writing, major resistance |
| 1310 | Fresh Call additions indicate higher resistance |
Bias: Bearish below Rs. 1,270. Recovery only after a sustained move above Rs. 1,293.
### Execution Plan
| Condition | Action |
|---|---|
| Above Rs. 1,293 | Buy 1290 CE |
| Above Rs. 1,306 | Hold for Rs. 1,328–1,350 |
| Below Rs. 1,270 | Buy 1280 PE |
| Rs. 1,270–1,293 | No Trade Zone |
### Technical View Today
| Indicator | Signal |
|---|---|
| Trend | Short-term Bullish, Medium & Long-term Bearish |
| RSI | 40.70 (Weak) |
| MACD | Negative |
| ADX | 14.92 (Weak Trend) |
| DMI | Bears ahead |
| Bollinger Bands | Near lower band |
| Stochastic | Oversold |
| ATR | 24.34 |
### Pro-Level Upgrade (What Big Players Do)
- Avoid aggressive buying while Reliance trades below Rs. 1,293–1,300.
- Wait for a strong closing breakout above resistance before building fresh long positions.
- Use declines towards Rs. 1,270 only for low-risk trading opportunities with strict stop losses.
- Book partial profits near Rs. 1,306 and trail the remaining position if momentum strengthens.
- If Rs. 1,270 breaks decisively, switch to a bearish strategy as selling pressure may intensify towards Rs. 1,239.
Paresh Gordhandas View: Reliance is attempting to stabilise after a prolonged decline, but the technical structure has not yet turned bullish. The stock needs a decisive move above Rs. 1,293–1,300 to confirm a trend reversal. Until then, maintain a cautious approach and trade only on confirmed breakouts or breakdowns.