What should be the winning strategy at Reliance counter?
Strategy for 30 May 2025.
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Technical Analysis of Reliance Industries (CMP: Rs. 1417.80)
Resistance Levels:
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R1: Rs. 1422
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R2: Rs. 1427
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R3: Rs. 1438
These levels indicate upward price barriers. A breakout above Rs. 1427 may trigger momentum towards Rs. 1438.
Support Levels:
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S1: Rs. 1411
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S2: Rs. 1404
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S3: Rs. 1393
If the price slips below Rs. 1411, further downside could be expected, especially near Rs. 1393.
Momentum Indicators:
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RSI (Relative Strength Index): 56.62
RSI is in the neutral to mildly bullish zone. It is not overbought or oversold, suggesting room for movement in either direction. -
Stochastic RSI: Positive
Indicates short-term bullish momentum, suggesting a potential upward move if supported by volume. -
Stochastics: Negative
Signals weakening price strength or potential pullback. Contradicts the Stochastic RSI, highlighting market indecision.
MACD (Moving Average Convergence Divergence):
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MACD Line: 25
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Signal Line: 33
The MACD line is below the Signal line, indicating a bearish crossover, which suggests caution in the short term unless reversed soon.
Technical View Summary:
Reliance Industries is currently trading slightly below its first resistance (Rs. 1422), with moderate support at Rs. 1411. RSI is neutral to bullish, and Stochastic RSI shows positivity, indicating possible short-term upside. However, the negative Stochastic and bearish MACD crossover suggest mixed signals.
Trading Strategy:
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Bullish Bias if price sustains above Rs. 1422, targeting Rs. 1427 and Rs. 1438.
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Caution advised if price falls below Rs. 1411, with Rs. 1404 and Rs. 1393 as next support levels.
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Watch for RSI movement towards 60+ and a MACD bullish crossover for confirmation of trend strength.
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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