Updated on 2 March 2026 9.00 PM IST
CMP Rs. 1358.00
Technical Structure
Reliance Industries is currently under short-term corrective pressure within a broader medium- to long-term bullish framework. While the 21-day and 63-day trend structures remain bullish, the short-term (5 days) trend has turned bearish, indicating immediate weakness.
The stock is trading below all major moving averages:
20DMA: 1429.48
34DMA: 1419.44
50DMA: 1458.65
89DMA: 1487.01
200DMA: 1450.31
This negative alignment confirms that price is in a corrective phase. The stock has declined 13.14% over the last three months and is now significantly off its 52-week high of Rs. 1611.80, though still well above the 52-week low of Rs. 1114.85.
Price is trading below the Pivot Point (1359.37) and very close to the Lower Bollinger Band (1376.70), suggesting near-term pressure but also possible short-term exhaustion.
Momentum & Indicator Analysis
Momentum indicators clearly reflect oversold conditions.
RSI at 35.11 indicates weak momentum, approaching oversold territory.
Stochastics (%K 13.98 / %D 18.45) confirm deep oversold positioning.
StochRSI (%K 0.00) reflects extreme short-term exhaustion.
CCI at -240.13 and Williams %R at -87.45 indicate heavily stretched downside levels.
MACD remains negative (-16.06 vs Signal -11.62) with a widening negative histogram (-4.43), showing that downside momentum is still active.
ADX at 23.46 suggests a moderate trend environment. Importantly, DMI- (33.14) is sharply above DMI+ (12.04), confirming seller dominance in the current structure.
Overall, momentum is weak and bearish, but indicators are deeply oversold — increasing probability of a technical rebound attempt.
Volatility & Price Behaviour
ATR at 30.09 suggests moderate volatility, implying that rebound or breakdown moves could be sharp.
Parabolic SAR at 1478.01 remains significantly above current price, reinforcing short-term corrective bias.
Price action around S1 (1340.13) and S2 (1322.27) becomes crucial. Sustained trade below 1340 could accelerate selling pressure toward 1320–1285 levels.
Key Levels for 3 March 2026
Immediate Resistance: 1377 – 1396 zone (R1 + Camarilla cluster)
Major Resistance: 1419 – 1450 band (Fibonacci + 20DMA + 200DMA cluster)
Immediate Support: 1340
Strong Positional Support: 1322 – 1285 region
Trend Expectation
The near-term bias remains corrective as long as price sustains below 1396–1420 resistance cluster.
However, extreme oversold oscillators suggest that a short-covering bounce toward 1380–1415 cannot be ruled out. Recovery strength will only improve if the stock reclaims 1429 (20DMA zone).
A breakdown below 1340 may open downside toward 1322 and potentially 1285 levels.
4–6 Week Positional Outlook (Power Calls View)
Recovery Scenario Target Zone: 1419 – 1458
Extended Reversal Target: 1487+
Breakdown Scenario: Sustained trade below 1322 may drag price toward 1285–1250 region.
Paresh Gordhandas Technical View of Reliance Industries
Reliance Industries is in a clear corrective phase with sellers maintaining short-term control. Momentum indicators reflect deep oversold conditions, which increases probability of a technical bounce, but structural strength will only return after reclaiming the 1420–1450 resistance cluster.
As long as the stock holds above the 1320–1340 support band, the broader medium-term structure remains intact, though near-term volatility and range-bound behaviour are likely.
| Consolidated Figures in Rs. Crores / View Standalone | |||||||||||||
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Jun-22 | Sep-22 | Dec-22 | Mar-23 | Jun-23 | Sep-23 | Dec-23 | Mar-24 | Jun-24 | Sep-24 | Dec-24 | Mar-25 | Jun-25 |
| Sales + | 218,855 | 229,409 | 216,737 | 212,834 | 207,559 | 231,886 | 225,086 | 236,533 | 231,784 | 231,535 | 239,986 | 261,388 | 243,632 |
| Expenses + | 181,157 | 198,438 | 181,728 | 174,478 | 169,466 | 190,918 | 184,430 | 194,017 | 193,019 | 192,477 | 196,197 | 217,556 | 200,727 |
| Operating Profit | 37,698 | 30,971 | 35,009 | 38,356 | 38,093 | 40,968 | 40,656 | 42,516 | 38,765 | 39,058 | 43,789 | 43,832 | 42,905 |
| OPM % | 17% | 14% | 16% | 18% | 18% | 18% | 18% | 18% | 17% | 17% | 18% | 17% | 18% |
| Other Income + | 2,275 | 3,656 | 3,377 | 2,996 | 3,813 | 3,841 | 3,869 | 4,534 | 3,983 | 4,876 | 4,214 | 4,905 | 15,119 |
| Interest | 3,997 | 4,554 | 5,201 | 5,819 | 5,837 | 5,731 | 5,789 | 5,761 | 5,918 | 6,017 | 6,179 | 6,155 | 7,036 |
| Depreciation | 8,942 | 9,726 | 10,183 | 11,452 | 11,775 | 12,585 | 12,903 | 13,569 | 13,596 | 12,880 | 13,181 | 13,479 | 13,842 |
| Profit before tax | 27,034 | 20,347 | 23,002 | 24,081 | 24,294 | 26,493 | 25,833 | 27,720 | 23,234 | 25,037 | 28,643 | 29,103 | 37,146 |
| Tax % | 28% | 24% | 23% | 11% | 25% | 25% | 25% | 24% | 25% | 24% | 24% | 23% | 17% |
| Net Profit + | 19,443 | 15,512 | 17,806 | 21,327 | 18,258 | 19,878 | 19,641 | 21,243 | 17,445 | 19,323 | 21,930 | 22,611 | 30,783 |
| EPS in Rs | 13.27 | 10.09 | 11.67 | 14.26 | 11.83 | 12.85 | 12.76 | 14.01 | 11.19 | 12.24 | 13.7 | 14.34 | 19.95 |
Quicklinks
The share price of Reliance Industries changes throughout market hours. Investors can track live prices on NSE and BSE or refer to updated data on Chanakyanipothi.com.
Reliance shares generally trade within a wide range. The 52-week high and low levels provide insight into the stock’s volatility and long-term trend.
Reliance is considered one of India’s strongest companies with presence in telecom, retail, energy, and green businesses. Many investors hold it for the long term, but one should always review valuations and financials before investing.
Reliance’s share price is affected by crude oil trends, telecom performance (Jio), retail growth, quarterly earnings, new project announcements, and overall market sentiment.