Reliance is trading within a broad consolidation range, with price momentum fading near resistance and buyers stepping in on dips.
Reliance Industries is showing signs of fatigue as it hovers between key technical levels.
While the long-term trend remains intact, SEBI-registered analyst Rajneesh Sharma noted that price momentum has been stalling around the ₹1,500–₹1,560 mark — a zone that has consistently triggered selling pressure in the past.
The stock has struggled to break above this range, with multiple sharp rejections pointing to a supply-heavy zone.
“Reliance is nearing a make-or-break zone, but what’s fascinating isn't just the price — it's the behavior around it,” Sharma said.
On the downside, dips toward ₹1,200–₹1,250 have attracted buying, keeping the broader structure in check.
Technically, the stock is holding above an ascending trendline that dates back to 2021, while also retesting a downtrend line from 2023 that was breached earlier this year.
Recent price action shows a reversal near the top of a rising channel, where multiple resistance points have converged, adding to the challenge for any clean breakout.
Sharma flagged three zones that traders should keep an eye on: resistance at ₹1,500–₹1,560, a mid-pivot near ₹1,398, and a support zone between ₹1,250–₹1,200.
If Reliance manages a convincing breakout above ₹1,560 with strong volume, Sharma said a move toward ₹1,610 is possible.
On the flip side, if rejection deepens, a slide toward ₹1,398 and even ₹1,250 isn’t off the table.
Weekly candles have started showing upper wicks, a classic signal of sellers stepping in near recent highs.
There’s no confirmed breakout just yet, Sharma noted, adding that the current behavior reflects a market in pause mode, not in a strong trend.
On Stocktwits, retail sentiment was ‘bearish’ amid ‘normal’ message volume.
The stock has risen 21.1% so far in 2025.
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