CMP Rs. 1406.80

Technical Structure
Reliance Industries is currently attempting stabilisation after a corrective phase, with all broader trend classifications still marked bullish. However, price action reflects short-to-medium term pressure as the stock continues to trade below key moving averages — 20DMA (1428.76), 34DMA (1425.52), 50DMA (1465.38), 89DMA (1488.83) and 200DMA (1450.94).

This alignment indicates that while the long-term structure remains constructive, the near-term setup is still under corrective influence. The stock has declined nearly 8.6% over the last three months, reflecting distribution near higher levels close to its 52-week high of 1611.80.

Price is hovering just above the pivot level of 1403.87 and closer to the lower Bollinger Band (1372.41), indicating that downside pressure has moderated but bullish confirmation is yet to emerge. The broader structure continues to show a higher base compared to the 52-week low of 1114.85, suggesting this phase may be consolidation rather than structural breakdown.

Momentum & Indicator Analysis
Momentum indicators reflect mild weakness but early stabilisation signals are visible.

RSI at 43.64 indicates subdued momentum, not yet in strong oversold territory but lacking bullish strength.
Stochastics (%K 27.48) and StochRSI (34.93) show price emerging from oversold zones, hinting at potential technical bounce attempts.
CCI at -121.99 and Williams %R at -81.63 indicate stretched downside conditions.

MACD remains negative (-10.72) and below the signal line (-10.10), with a slightly negative histogram, confirming absence of strong bullish momentum.
ADX at 21.07 suggests moderate trend presence, while DMI- (25.69) remains above DMI+ (14.57), indicating sellers still maintain directional control.

Overall, momentum remains weak but not aggressively bearish — indicating consolidation with rebound potential.

Volatility & Price Behaviour
Reliance is trading near the lower half of the Bollinger Band range, suggesting containment rather than fresh breakdown. Parabolic SAR at 1487.58 remains well above current price, confirming corrective bias in the short term.

ATR at 28.84 indicates moderate volatility, implying price swings may remain sharp around support and resistance clusters. Price behaviour around the pivot zone of 1403.87 remains crucial for short-term direction.

Key Levels for 27 Feb 2026

Immediate Resistance: 1415 – 1428 zone (R1 + Camarilla + 20DMA cluster)
Major Resistance: 1445 – 1466 band (R3/R4 + 50DMA zone)

Immediate Support: 1394 – 1382 band (S1 to S2 cluster)
Strong Positional Support: 1361 – 1340 region (S3/S4 cluster)

Trend Expectation
The near-term structure suggests range-bound to mildly corrective bias unless price sustains above 1428. Recovery attempts toward the 1425–1450 zone may face supply pressure as major moving averages act as overhead resistance.

However, oversold oscillators indicate that a technical bounce toward resistance zones cannot be ruled out. Sustaining below 1382 would increase probability of deeper consolidation toward 1360–1340.

4–6 Week Positional Target (Power Calls View)

Primary Target Zone (Recovery Scenario): 1457 – 1486
Extended Target (Momentum Reversal): 1504+

A sustained breakdown below 1361 would weaken the medium-term structure and may open downside toward 1319–1290 region.

Paresh Gordhandas Technical View of Reliance Industries
Reliance Industries remains in a corrective consolidation phase with price trading below key moving averages and momentum indicators reflecting subdued strength. While sellers retain short-term control, oversold readings and proximity to lower support zones suggest that a technical rebound attempt may emerge. The broader bias remains cautiously constructive for positional traders as long as the stock sustains above the 1360 support band, though decisive strength will only return after reclaiming the 1428–1450 resistance cluster.