Reliance Breaks Long-Term Trendline With Strength — RS & Momentum Turning Up

1. Breakout Above Major Trendline Price has finally broken above the long-term descending trendline (red), showing strength after months of compression. The breakout is supported by higher lows and a sustained move above the 30-week SMA, indicating trend resumption. 2. Rising Support Structure The green ascending trendline shows consistent accumulation and a well-defined higher-low structure. This provides a strong base for continuation. 3. Relative Strength (RS) Turning Strong RS vs CNX500 (green) has moved decisively into positive territory and is rising. A rising RS line confirms leadership behaviour, meaning Reliance is now outperforming the broader market. 4. RSI Momentum Improving RSI has broken its multi-month downtrend and is now above its signal line. This suggests momentum shift from consolidation to accumulation. 5. Volume Behaviour Although not explosive, the volume profile is stable with periodic accumulation spikes—consistent with institutional buying patterns. 📝 Summary Reliance has completed a multi-month consolidation, broken key resistance trendlines, and shows improving RS and RSI momentum. Structure remains positive as long as higher lows and moving average support remain intact. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)