Reliance Industries Ltd — Short-Term Chart Study
NSE: RELIANCE
Reliance is showing a short-term rebound attempt from the lower support zone after a corrective move from recent highs. Price has taken support near the ₹1,277–1,300 area and is now trying to sustain above the short-term recovery zone.
Chart observations:
Price is holding above the recent support area.
Daily RSI has moved back above the mid-zone, showing improving momentum.
Daily MACD is also improving, suggesting downside pressure is reducing.
The first important resistance zone is near ₹1,390.
Bigger confirmation is still pending on weekly structure.
The key area to track now is the ₹1,315–1,330 zone. If price sustains above this area, the next important resistance zone comes near ₹1,390–1,410.
On the downside, ₹1,298–1,300 is the near support zone, while ₹1,277 is the important risk zone to track. If price fails to hold this area, the rebound setup may weaken.
Key levels:
Near support: ₹1,298–1,300
Major support / risk zone: ₹1,277
Sustain zone: ₹1,315–1,330
Resistance watch: ₹1,390–1,410
Higher resistance: ₹1,430 / ₹1,470
For now, Reliance looks like a short-term rebound setup from support, but stronger confirmation will depend on sustained price action above ₹1,390–1,410 with healthy volume.
Shared only for educational study and chart-tracking purpose. This is not a buy/sell recommendation or investment advice. I am not a SEBI registered advisor. Please do your own research or consult a qualified financial advisor before taking any investment decision. I am not responsible for any profit or loss based on this post.
#RELIANCE #RelianceIndustries #Nifty50 #NiftyHeavyweight #NSE #DailyChart #ChartStudy #TechnicalAnalysis #StockMarketIndia
NSE: RELIANCE
Reliance is showing a short-term rebound attempt from the lower support zone after a corrective move from recent highs. Price has taken support near the ₹1,277–1,300 area and is now trying to sustain above the short-term recovery zone.
Chart observations:
Price is holding above the recent support area.
Daily RSI has moved back above the mid-zone, showing improving momentum.
Daily MACD is also improving, suggesting downside pressure is reducing.
The first important resistance zone is near ₹1,390.
Bigger confirmation is still pending on weekly structure.
The key area to track now is the ₹1,315–1,330 zone. If price sustains above this area, the next important resistance zone comes near ₹1,390–1,410.
On the downside, ₹1,298–1,300 is the near support zone, while ₹1,277 is the important risk zone to track. If price fails to hold this area, the rebound setup may weaken.
Key levels:
Near support: ₹1,298–1,300
Major support / risk zone: ₹1,277
Sustain zone: ₹1,315–1,330
Resistance watch: ₹1,390–1,410
Higher resistance: ₹1,430 / ₹1,470
For now, Reliance looks like a short-term rebound setup from support, but stronger confirmation will depend on sustained price action above ₹1,390–1,410 with healthy volume.
Shared only for educational study and chart-tracking purpose. This is not a buy/sell recommendation or investment advice. I am not a SEBI registered advisor. Please do your own research or consult a qualified financial advisor before taking any investment decision. I am not responsible for any profit or loss based on this post.
#RELIANCE #RelianceIndustries #Nifty50 #NiftyHeavyweight #NSE #DailyChart #ChartStudy #TechnicalAnalysis #StockMarketIndia
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.