Updated on 4 March 2026 9.00 PM IST
CMP Rs. 1345.00
Technical Structure
Reliance Industries is currently undergoing a corrective phase within a broader bullish structure. The stock has declined nearly 5.87% in the last week and 14.19% over the past three months, indicating sustained selling pressure after a prolonged uptrend earlier in the year.
The short-term trend (5 days) has turned bearish, while the medium-term (21 days) and long-term (63 days) trends remain bullish, suggesting that the current weakness may represent a correction within a larger structural trend.
The stock is trading below all major moving averages, which confirms near-term technical weakness:
20DMA: 1424.88
34DMA: 1416.27
50DMA: 1454.24
89DMA: 1485.81
200DMA: 1449.75
This alignment indicates that sellers currently dominate the short-term trend. The 200DMA near Rs. 1450 now becomes a major resistance zone, and the stock needs a decisive move above this level to restore medium-term bullish momentum.
Price is also trading below the lower Bollinger Band (1360.71), reflecting strong downward momentum and potential short-term oversold conditions.
Momentum & Indicator Analysis
Momentum indicators confirm the prevailing bearish pressure, though several oscillators are approaching oversold territory.
RSI at 33.21 is close to the oversold zone, indicating weakening momentum but also hinting at a potential technical bounce.
Stochastics (%K 23.53 / %D 17.13) show the stock entering oversold territory, suggesting the possibility of a short-term pullback rally.
StochRSI at 0.00 indicates extreme short-term oversold conditions, often associated with technical rebounds.
Williams %R at -77.11 also signals oversold positioning.
CCI at -234.78 is deeply oversold, reflecting aggressive selling pressure in recent sessions.
The MACD (-19.94 vs Signal -13.29) remains negative with a widening histogram (-6.66), confirming continuation of the bearish trend.
ADX at 25.74 suggests that the downward trend is gaining strength. Additionally, DMI- (37.12) is significantly higher than DMI+ (10.65), confirming strong seller dominance.
Momentum reading at -45.4 further supports the current corrective trend.
Overall structure: Bearish momentum with oversold conditions developing.
Volatility & Price Behaviour
ATR at 31.58 indicates elevated volatility, suggesting that price swings may remain wide in the near term.
The Parabolic SAR at 1467.09 remains well above the current price, confirming that the prevailing trend remains downward.
The stock is currently trading slightly above the Pivot Point at Rs. 1334.93, indicating that the immediate trading bias remains fragile.
If the stock fails to sustain above the pivot level, further downside could emerge toward key support zones.
Key Levels
Immediate Resistance: 1362 – 1380 zone
Major Resistance: 1425 – 1450 zone
Immediate Support: 1317
Strong Positional Support: 1289 – 1300 zone
Trend Expectation
Reliance Industries remains under short-term selling pressure, but the presence of deeply oversold indicators suggests the possibility of a technical pullback rally.
A sustained move above Rs. 1360–1380 could trigger short-covering toward 1420–1450 levels.
However, failure to hold above the Rs. 1335 pivot zone may extend the decline toward Rs. 1317 and Rs. 1290 support levels.
Technical View
The stock is currently in a corrective phase after an extended rally, with momentum indicators signaling exhaustion of the recent selling wave.
While the broader medium-term structure remains constructive, the near-term trend will remain weak unless the stock reclaims the Rs. 1400–1425 resistance band.
Traders should watch the Rs. 1335 pivot level closely, as sustained trading above this zone could trigger a relief rally, while a breakdown may deepen the correction.
| Consolidated Figures in Rs. Crores / View Standalone | |||||||||||||
|
|
Jun-22 | Sep-22 | Dec-22 | Mar-23 | Jun-23 | Sep-23 | Dec-23 | Mar-24 | Jun-24 | Sep-24 | Dec-24 | Mar-25 | Jun-25 |
| Sales + | 218,855 | 229,409 | 216,737 | 212,834 | 207,559 | 231,886 | 225,086 | 236,533 | 231,784 | 231,535 | 239,986 | 261,388 | 243,632 |
| Expenses + | 181,157 | 198,438 | 181,728 | 174,478 | 169,466 | 190,918 | 184,430 | 194,017 | 193,019 | 192,477 | 196,197 | 217,556 | 200,727 |
| Operating Profit | 37,698 | 30,971 | 35,009 | 38,356 | 38,093 | 40,968 | 40,656 | 42,516 | 38,765 | 39,058 | 43,789 | 43,832 | 42,905 |
| OPM % | 17% | 14% | 16% | 18% | 18% | 18% | 18% | 18% | 17% | 17% | 18% | 17% | 18% |
| Other Income + | 2,275 | 3,656 | 3,377 | 2,996 | 3,813 | 3,841 | 3,869 | 4,534 | 3,983 | 4,876 | 4,214 | 4,905 | 15,119 |
| Interest | 3,997 | 4,554 | 5,201 | 5,819 | 5,837 | 5,731 | 5,789 | 5,761 | 5,918 | 6,017 | 6,179 | 6,155 | 7,036 |
| Depreciation | 8,942 | 9,726 | 10,183 | 11,452 | 11,775 | 12,585 | 12,903 | 13,569 | 13,596 | 12,880 | 13,181 | 13,479 | 13,842 |
| Profit before tax | 27,034 | 20,347 | 23,002 | 24,081 | 24,294 | 26,493 | 25,833 | 27,720 | 23,234 | 25,037 | 28,643 | 29,103 | 37,146 |
| Tax % | 28% | 24% | 23% | 11% | 25% | 25% | 25% | 24% | 25% | 24% | 24% | 23% | 17% |
| Net Profit + | 19,443 | 15,512 | 17,806 | 21,327 | 18,258 | 19,878 | 19,641 | 21,243 | 17,445 | 19,323 | 21,930 | 22,611 | 30,783 |
| EPS in Rs | 13.27 | 10.09 | 11.67 | 14.26 | 11.83 | 12.85 | 12.76 | 14.01 | 11.19 | 12.24 | 13.7 | 14.34 | 19.95 |
Quicklinks
The share price of Reliance Industries changes throughout market hours. Investors can track live prices on NSE and BSE or refer to updated data on Chanakyanipothi.com.
Reliance shares generally trade within a wide range. The 52-week high and low levels provide insight into the stock’s volatility and long-term trend.
Reliance is considered one of India’s strongest companies with presence in telecom, retail, energy, and green businesses. Many investors hold it for the long term, but one should always review valuations and financials before investing.
Reliance’s share price is affected by crude oil trends, telecom performance (Jio), retail growth, quarterly earnings, new project announcements, and overall market sentiment.