What should be the winning strategy at Reliance counter tomorrow?
Updated for 25 April 2025.
As of April 24, 2025, Reliance Industries Ltd. (NSE: RELIANCE) is exhibiting a bullish short-term trend, supported by favorable technical indicators and positive analyst outlooks. Here’s a strategic approach for trading Reliance stock on April 25, 2025:
Technical Overview
- Current Price: Rs.1,301.60
- Short-Term Trend: Bullish
- Key Indicators:
- RSI (14): 63.00 — Indicates a strong buy signal with momentum building.
- MACD: Positive crossover — Suggests continued upward momentum.
- Ichimoku Cloud: Prices are above the green cloud, signaling an uptrend.
Support & Resistance Levels
- Hourly Support: Rs.1,293
- Hourly Resistance: Rs.1,307
- Daily Support: Rs.1,284
- Daily Resistance: Rs.1,313
Trading Strategy
Bullish Scenario (Breakout Above Rs. 1,304)
- Entry Point: Above Rs.1,304
- Target Levels:
- Rs.1,307: Initial resistance.
- Rs.1,313-1327: Potential upside based on analyst projections.
- Stop Loss: Below Rs.1,293
Bearish Scenario (Failure to Sustain Above Rs.1,298)
- Entry Point: Below Rs.1,295
- Target Levels:
- Rs.1,293: Support level.
- Rs.1,284: Potential downside.
- Stop Loss: Above Rs.1,307
Additional Considerations
- Volume Analysis: Monitor trading volumes for confirmation of breakout or breakdown.
- Market Sentiment: Stay updated on global economic news that could impact market conditions.
- Risk Management: Ensure proper position sizing and use stop-loss orders to manage potential losses.
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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