RELIANCE - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 4.2

Here’s a detailed technical analysis of Reliance Industries Ltd (RELIANCE)

📊 Trend Overview

Current Trend: The stock is in a moderate uptrend, trading above both its 50-DMA (₹1,402) and 200-DMA (₹1,378), indicating bullish bias with support from moving averages.

52-Week Positioning: At 68.8% of its 52-week range (₹1,115 – ₹1,551), the stock is in the upper-middle zone, showing strength but still below its peak.

📈 Momentum Indicators

RSI (58.6): Bullish. Indicates healthy momentum with room to rise before entering overbought territory.

MACD (0.51): Positive crossover, confirming bullish momentum. However, the signal is still weak and needs volume confirmation.

Volume: Current volume (1.00 Cr.) is above the 1-week average (82.6L), suggesting increased participation and potential accumulation.

📉 Chart Patterns & Moving Averages

Price Action: The stock is forming higher lows and consolidating near the breakout zone of ₹1,420. A sustained move above ₹1,430–₹1,450 could trigger a rally toward its 52-week high.

Support Levels

₹1,402 – 50-DMA and immediate support

₹1,378 – 200-DMA and secondary support

Resistance Levels

₹1,430–₹1,450 – short-term resistance zone

₹1,500–₹1,551 – 52-week high zone

📌 Bollinger Bands

Price is near the upper band, suggesting bullish momentum. Bands are widening, indicating increasing volatility and potential for breakout continuation.

🎯 Entry & Exit Zones

Action Price Zone (₹) Rationale

Entry 1,390–1,410 Near DMA support and breakout base

Exit (Short) 1,430–1,450 Resistance zone, potential profit booking

Exit (Long) 1,500–1,551 If breakout sustains above ₹1,450

🔍 Market Behavior

Trending: Yes, moderate bullish trend confirmed by MACD, RSI, and price action.

Consolidating: Slightly, within ₹1,390–₹1,450 range.

Reversing: Not currently. Indicators suggest continuation unless RSI peaks and volume fades.

🧠 Summary

RELIANCE is technically strong, trading above key moving averages with bullish indicators. RSI and MACD support upside potential, and volume trends are favorable. Traders may consider accumulating near ₹1,390–₹1,410 and watch for breakout above ₹1,450 for targets toward ₹1,551.

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