Reliance Set For Next Leg Of Rally? SEBI RIA Financial Independence Eyes Breakout Above ₹1,470

After a strong rally in April and May, Reliance has been moving within a narrow range in recent weeks, but technical charts suggest the consolidation phase may be nearing its end.

Reliance Industries is signaling a breakout from its consolidation phase, with a potential upside of over 5%, according to SEBI-registered investment advisors Financial Independence.   

Following a sharp rally in April and May, Reliance Industries has been trading in a tight range between ₹1,420 and ₹1,460 over the past few weeks, but the consolidation appears to be ending, said the investment advisors.

Over the last three months, Reliance’s stock rose 17.5%

The stock showed bullish momentum, closing 2.5% higher at ₹1,464.10. A sustained move above the ₹1,460–₹1,470 resistance zone could open the path for a rally toward the ₹1,510 - ₹1,540 range in the short to medium term, they noted. This represents a 5% premium to Friday’s closing price.

On the flip side, immediate support is seen in the ₹1,410–₹1,420 range.

The technical setup appears promising, with the Relative Strength Index (RSI) at 61.31, indicating bullish momentum without the stock being in overbought territory.

As the Nifty consolidates at higher levels, Reliance is emerging as a high-conviction candidate for positional traders, they added.

Fundamentally, Reliance remains robust, with steady performance across its core businesses - retail, digital services, and energy. Its Q4 FY25 consolidated revenue rose nearly 9%, resulting in a net profit growth of 2.5%

Year-to-date (YTD), the stock has gained 20.5%.

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