Why This Trade?
• Reliance closed at Rs. 1258.80 and remains below all major moving averages.
• Short-term, medium-term and long-term trends are bearish.
• RSI at 29.15 indicates the stock is in oversold territory.
• MACD remains negative with a weak histogram reading of -8.05.
• ADX at 26.64 indicates a strong directional trend.
• DMI- at 28.97 is significantly above DMI+ at 16.30, confirming bearish dominance.
• Option chain shows heavy Call writing between 1270–1290 strikes.
• Put support exists near 1230–1250, but sellers remain aggressive.
▶ Detailed Option Chain Analysis +
Support and Resistance
| Type | Levels |
| Immediate Support | 1242 – 1225 |
| Strong Support | 1179 – 1133 |
| Immediate Resistance | 1288 – 1317 |
| Strong Resistance | 1363 – 1409 |
Key Levels
| Level Type | Price |
| Pivot Point | 1271.23 |
| Downside Trigger | 1242 |
| Upside Trigger | 1288 |
| Major Resistance | 1288 |
| Strong Support | 1225 |
▶ PCR Analysis Today
| Strike | PCR Interpretation |
| 1230 | Strong Put support visible (PCR 3.99) |
| 1240 | Strong support base (PCR 2.26) |
| 1250 | Healthy support zone (PCR 1.43) |
| 1260 | Moderate support (PCR 1.33) |
| 1270 | Major OI battleground (PCR 1.09) |
| 1280 | Call writers gaining control (PCR 0.65) |
| 1290 | Strong resistance zone (PCR 0.64) |
Bias: Bearish below Rs. 1242, recovery only above Rs. 1288.
▶ Max Pain & Execution Plan
Max Pain Today
| Metric | Level |
| Max Pain Zone | 1270 – 1280 |
Execution Plan
| Condition | Action |
| Below Rs. 1242 | Buy 1280 PE |
| Below Rs. 1225 | Buy 1270 PE |
| Above Rs. 1288 | Buy 1280 CE |
| Rs. 1242 – 1288 | No Trade Zone |
▶ Technical View Today
| Indicator | Signal |
| Momentum | Bearish |
| RSI | 29.15 |
| ADX | 26.64 (Strong Trend) |
| MACD | Negative |
| DMI | Bears firmly ahead |
| ATR | 27.91 |
| Bollinger Bands | Trading near lower band |
| StochRSI | Deep oversold |
▶ Pro-Level Upgrade (What Big Players Do)
• Avoid aggressive buying while Reliance remains below Rs. 1288.
• Use pullbacks towards Rs. 1270–1288 for profit booking in long positions.
• Fresh bullish positions should only be considered after a close above Rs. 1288.
• Bears continue to have an edge as DMI-, MACD and moving averages remain negative.
• Book partial profits near Rs. 1225 and Rs. 1179 support clusters.
• Oversold readings can trigger sharp short-covering rallies, but trend reversal confirmation is still absent.