Reliance Targets Today

Reliance Industries Today at a Glance

Reliance Industries closed at Rs. 1,325, gaining a strong 3.52% in the latest session. The sharp rebound has improved near-term momentum, but the larger technical structure is not yet fully bullish. Short-, medium- and long-term trend readings remain bearish, making the present move a recovery rally until important resistance levels are crossed.

Today’s Prediction

Reliance has reclaimed its 20, 34 and 50-day SMAs and closed above its 50-day EMA of Rs. 1,309.71. This is encouraging. However, the stock is now approaching its 89-day moving-average resistance around Rs. 1,329–1,331 and the upper Bollinger Band at Rs. 1,331.09.

Therefore, the next session is crucial. Sustaining above Rs. 1,330–1,340 can extend the recovery, while rejection from this area could trigger profit-booking.

Market Probability

Based on the price structure, momentum indicators and August option chain:

Bullish continuation: 55%
Sideways/consolidation: 25%
Bearish reversal: 20%

The improving MACD histogram and RSI support bulls, but ADX at only 13.61 shows that a powerful new trend has not yet been established.

Bullish Scenario

The first bullish confirmation comes if Reliance sustains above Rs. 1,340. This would clear immediate resistance and improve the probability of a move towards Rs. 1,354–1,355.

A decisive breakout above Rs. 1,355 can open the next upside zone around Rs. 1,398.

Therefore:

Above Rs. 1,340 → Target Rs. 1,355
Above Rs. 1,355 → Target Rs. 1,398

A move above Rs. 1,398 would represent a much stronger medium-term trend reversal.

Bearish Scenario

The immediate downside reference is Rs. 1,295–1,300. This area contains the 20-, 34- and 50-day SMA cluster and should provide meaningful support.

If Reliance slips below Rs. 1,295, the recovery loses strength and the stock could retest Rs. 1,266.

A breakdown below Rs. 1,266 would again place bears firmly in control.

No Trade Zone

The Rs. 1,310–1,340 region should be treated cautiously.

At Rs. 1,325, Reliance sits between strong moving-average support and overhead resistance. Buying aggressively in the middle of this zone offers an inferior risk-reward proposition.

Wait either for a dip towards support or a confirmed breakout.

Key Levels

Reliance Option Strategy

The August 25 option chain indicates significant Call OI at 1,350, while 1,300 has meaningful positioning on both sides.

Interestingly, Call unwinding is visible at 1,300–1,340, which supports the recent recovery. However, fresh Call addition at 1,350 indicates that this strike could become the next major hurdle.

For directional traders, 1,340–1,350 therefore becomes the decisive confirmation area rather than chasing the stock immediately.

Why This Trade?

Reliance’s RSI has improved to 56.48, MACD histogram is positive at 3.24 and momentum stands at +49.10. The stock has also reclaimed several important moving averages.

However, MACD itself remains below zero, ADX is weak, and +DMI at 26.00 is still marginally below -DMI at 26.99. Hence, the data confirms improvement, but not yet a complete bullish reversal.

Final Verdict

Reliance View: Neutral to Mildly Bullish

The 3.52% rally is technically meaningful, but investors should not mistake one strong session for a confirmed trend reversal.

Best trade: Buy above Rs. 1,340, with stronger confirmation above Rs. 1,355. Targets are Rs. 1,355 and Rs. 1,398. Alternatively, use declines towards Rs. 1,295–1,305 for carefully controlled accumulation.

Paresh Gordhandas View

Reliance is showing the early stages of a technical recovery, supported by improving RSI, positive MACD histogram and Call unwinding at lower strikes. However, Rs. 1,340–1,355 remains the crucial supply zone. A sustained breakout above Rs. 1,355 can convert the present rebound into a stronger bullish move towards Rs. 1,398. Below Rs. 1,295, traders should become cautious.