What should be the winning strategy at Reliance counter?
Strategy for 17 June 2025
Reliance Industries – Technical Analysis
CMP: Rs. 1,437.90
Support and Resistance Levels:
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Resistance 1 (R1): Rs. 1,445
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Resistance 2 (R2): Rs. 1,453
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Resistance 3 (R3): Rs. 1,471
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Support 1 (S1): Rs. 1,427
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Support 2 (S2): Rs. 1,417
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Support 3 (S3): Rs. 1,399
The stock is currently trading just below its immediate resistance at Rs. 1,445. A close above this level may lead to a test of Rs. 1,453 and potentially Rs. 1,471 in the short term. On the downside, Rs. 1,427 serves as an important support to watch.
Momentum Indicators:
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RSI (Relative Strength Index): 56.72
RSI is in the neutral to slightly bullish territory, indicating strength with room for upward movement without being overbought. -
Stochastic RSI: Positive
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Stochastics: Positive
Both stochastic indicators suggest bullish momentum and buying pressure building up.
MACD (Moving Average Convergence Divergence):
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MACD Line: 15.52
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Signal Line: 19
The MACD line is slightly below the signal line, which may reflect a pause or minor consolidation in bullish momentum. However, with other indicators supportive, this could change quickly.
Conclusion:
Reliance Industries is displaying constructive price action supported by bullish momentum indicators. A breakout above Rs. 1,445 could trigger a move toward Rs. 1,453 and Rs. 1,471. However, traders should watch Rs. 1,427 as the first level of support; a break below this may see the stock test Rs. 1,417 or Rs. 1,399. Current technicals favor a cautiously bullish outlook with close attention to the MACD crossover in the coming sessions.
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Quicklinks
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.
