Reliance Share Price Target: Will It Break Above Rs. 1,355?

Reliance Share Analysis: Bullish Trend Faces Rs. 1,350–1,365 Hurdle

Part 1 — Investment Decision

Reliance at a Glance

Reliance remains technically bullish above Rs. 1,325, but fresh buying needs confirmation above Rs. 1,355. The 13 November 2026 reference close of Rs. 1,339.70 stands above all listed moving averages. However, RSI of 70.98 signals stretched momentum, while options positioning indicates overhead resistance.

Today’s Prediction

For the next trading session, sustaining above Rs. 1,355 could open Rs. 1,365, followed by Rs. 1,382. Failure near resistance may produce consolidation or a retreat towards Rs. 1,328–1,325.

The platform’s bearish medium- and long-term labels conflict with the improving indicator snapshot. Treat this as a strengthening recovery requiring follow-through.

Market Probability

The directional balance favours bullish continuation, but the immediate entry remains less attractive than the trend itself.

MACD exceeds its signal line, ADX is above 30, and +DMI comfortably exceeds −DMI. Conversely, overbought oscillators and substantial Rs. 1,350 call open interest favour caution. These readings do not establish a statistically validated percentage probability.

Bullish Scenario

Consider buying only after price holds Rs. 1,355–1,358, preferably following a successful retest with stronger participation.

Proposed protective stop: Rs. 1,338. Initial objectives are Rs. 1,365 and Rs. 1,382; sustained strength could extend towards Rs. 1,392.

The first objective offers limited reward relative to risk. Avoid chasing if the initial breakout immediately stalls.

Bearish Scenario

A sustained break below Rs. 1,325, followed by failure to reclaim it, would weaken the near-term setup.

Downside reference levels are Rs. 1,311 and Rs. 1,295. For a tactical bearish trade, Rs. 1,339 is a proposed invalidation level. Short positions require particular caution against the otherwise positive technical structure.

No Trade Zone

Rs. 1,328–1,352 is the preferred waiting zone for fresh directional positions. Price fluctuations here may reflect consolidation rather than a decisive breakout.

Key Levels

These pivot-derived references apply primarily to the next session, not guaranteed multiweek turning points.

Reliance Option Strategy

After bullish confirmation, consider a same-expiry Rs. 1,350/1,370 bull call spread: buy the lower-strike call and sell the higher-strike call.

Snapshot premiums imply a Rs. 6.20 debit, maximum expiry profit of Rs. 13.80, and breakeven of Rs. 1,356.20, per share before costs. Reprice both legs at execution.

The 23 November expiry is consistent with NSE’s holiday-adjustment rule because 24 November is a trading holiday. Stock-option settlement obligations must also be managed before expiry. NSE India

Why This Trade?

Positive momentum supports continuation; defined entry conditions reduce buying directly beneath resistance.

Final Verdict

Conditional bullish watch; avoid immediate chasing. Fresh put additions at Rs. 1,330–1,340 suggest support-building, but the partial chain cannot establish market-wide positioning.

Paresh Gordhandas View

Prefer confirmation above Rs. 1,355 or wait for support to stabilise. Respect invalidation levels and avoid averaging down.