Reliance Industries Intraday Prediction – 17 July 2026

Reliance Today at a Glance

Today’s Reliance Prediction

Reliance continues to trade in a weak broader trend with all three major timeframes (short, medium and long term) remaining bearish. However, momentum indicators suggest selling pressure is easing. The MACD histogram has turned positive despite MACD remaining below zero, while RSI at 46.69 reflects neutral momentum rather than oversold conditions.

The option chain also supports a range-bound session. The 1300 strike continues to attract the highest Call open interest, making it the immediate resistance, while Put writers are defending 1290–1300, indicating support in that zone.

A sustained move above 1310 could trigger short covering towards 1320–1330, whereas a fall below 1290 may invite fresh selling towards 1282–1270.

Market Probability

✅ 65% chance of trading between 1290 and 1310

✅ 25% chance of breakout above 1310

❌ 10% chance of decline below 1282

Chanakya Trading Strategy

Bullish Scenario

• Buy only above 1310
• Upside Targets
  • 1320
  • 1330
  • Extended Target: 1345
• Stop Loss: 1299

Bearish Scenario

• Sell below 1290
• Downside Targets
  • 1282
  • 1270
  • Extended Target: 1264
• Stop Loss: 1300

No Trade Zone

1290 – 1310

Expect consolidation with rapid option premium decay.

Key Reliance Levels Today

Reliance Option Strategy (28 July Expiry)

Conservative Breakout Trade

Aggressive Momentum Trade

Bearish Breakdown Trade

Aggressive Bearish Trade

Why This Trade?

The current setup favours waiting for a confirmed breakout rather than anticipating direction.

• Reliance closed at 1296.60, just below its 20-DMA and 34-DMA.
• All major trends remain bearish.
• MACD remains negative but the improving histogram indicates downside momentum is weakening.
• RSI at 46.69 reflects neutral momentum.
• ADX at 14.11 indicates a weak trend, favouring range-bound trading.
• Price remains below the 50-DMA, 89-DMA and 200-DMA, keeping the broader outlook weak.
• Bollinger Bands show the stock trading close to the middle-lower band, suggesting limited directional conviction.
• The option chain shows heavy Call resistance at 1300–1320 while Put writers continue supporting 1290–1300.

Final Verdict

Reliance remains technically weak in the broader timeframe, but momentum indicators suggest the selling pressure is gradually losing strength. As long as the stock trades between 1290 and 1310, expect consolidation. A decisive breakout above 1310 can trigger a recovery towards 1320–1330, while a breakdown below 1290 could extend the decline towards 1282–1270.

Paresh Gordhandas View

Reliance is approaching an important decision zone. Although the long-term trend remains bearish, the improving MACD histogram and stable RSI suggest bears are losing momentum. Professional traders should avoid initiating fresh positions inside the 1290–1310 range. The higher-probability trade is to wait for confirmation above 1310 for a momentum recovery or below 1290 for continuation of the prevailing downtrend.