What should be the winning strategy at Reliance counter?
Strategy for 28 May 2025.
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Technical Analysis – Reliance Industries
Current Market Price (CMP): Rs. 1422.10
Change: Down by Rs. 12.70
Support and Resistance Levels
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Immediate Resistance (R1): Rs. 1435
CMP is just below this level. A breakout above Rs. 1435 could open the path toward higher resistances. -
Higher Resistances:
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R2: Rs. 1447
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R3: Rs. 1471
These levels will act as potential upside targets if bullish momentum strengthens.
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Immediate Support (S1): Rs. 1412
Closely watched level; a break below may trigger further downside. -
Lower Supports:
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S2: Rs. 1401
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S3: Rs. 1378
Sustained weakness below these levels may lead to deeper correction.
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Momentum Indicators
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Relative Strength Index (RSI): 58.00
Indicates moderately bullish momentum; not yet in overbought territory, suggesting scope for further upside. -
Stochastic RSI: Negative
Suggests possible short-term pause or minor correction. Traders should be alert for any shift in sentiment. -
Stochastic: Positive
Reflects ongoing buying interest in the broader trend.
Trend Indicators
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MACD Line: 31
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Signal Line: 37
MACD is below the Signal Line, signaling a bearish crossover. This typically warns of a short-term decline or a pause in the ongoing uptrend.
Summary Outlook
Reliance is trading below immediate resistance at Rs. 1435, showing a marginal pullback. The RSI remains comfortably above 50, reflecting underlying strength. However, the bearish MACD crossover and negative Stochastic RSI hint at short-term consolidation or mild pressure.
Key levels to monitor:
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Break above Rs. 1435 could push prices toward Rs. 1447 and Rs. 1471.
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Fall below Rs. 1412 may drag the stock toward Rs. 1401 or even Rs. 1378.
Technical Bias: Neutral to Mildly Bullish
Wait for a clear breakout or breakdown before initiating aggressive positions. Short-term traders should stay cautious due to mixed indicator signals.
What are Latest & Breaking News on Reliance Industries?
UBS maintains Reliance Industries at ‘buy’ with a price target of Rs. 3.00K
An analyst from UBS maintained Reliance Industries (NS: RELI) at ‘buy’ with a price target of Rs.3.00K from a prior price target
Prior to this rating, Reliance Industries had 29 buy ratings, 2 hold ratings, and 2 sell ratings.
Reliance Industries continues to be on Jefferies ‘Buy’ list with price target of Rs 2,990 (7Dec 23 update)
Jefferies has recommended a ‘Buy’ call on Reliance Industries, with a target price set at Rs 2,990 per share. The recommendation comes in anticipation of Reliance Industries’ ambitious plans to commission Phase I of its photovoltaic (PV) module and storage capacity by mid-calendar year 2024.
Jefferies acknowledges the challenges faced by the global renewable equipment sector due to Chinese overcapacity, which has impacted profitability. However, the brokerage firm remains optimistic about the outlook for Reliance Industries, citing several factors that could positively influence the company’s renewable ventures.
FII holding in RIL rebounds from 26-qtr low
Foreign investors raised their holding in RIL for the first time in six quarters in the three months ended June, albeit marginally. Their stake in the company rose to 22.55% as of June end, from a 26-quarter low of 22.49% in the preceding quarter, shareholding data showed.
That FIIs remain the lifeline for RIL stock even though mutual funds acted as the life support system in the last few quarters is evident from the stock performance.
In the June quarter, the stock net gained more than 9%, recouping all of the losses it made in the preceding quarter.
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