Reliance Industires Ltd Techical Outlook

Reliance Industries has maintained a strong long-term bullish trend over the years, supported by a rising ascending trendline that has historically acted as dynamic support during corrective phases. However, recent price action indicates weakening momentum, with the stock witnessing selling pressure near previous highs. The latest monthly candle reflects weakness, with an open of ₹1,180.10, high of ₹1,234.30, low of ₹1,152.20 and close of ₹1,164.20. The ₹1,200 zone remains a crucial horizontal support, while ₹1,260, ₹1,330 and ₹1,460 are important resistance levels. A sustained recovery above ₹1,200–₹1,260 could improve near-term sentiment, with further strength above ₹1,330 potentially reviving bullish momentum. However, a decisive breakdown below ₹1,200, particularly accompanied by a breach of the long-term ascending trendline, could signal a deterioration in the broader trend and invite further downside pressure below the recent monthly low of ₹1,152.20. Going ahead, investors should closely monitor the ₹1,200 support zone and the ascending trendline for confirmation of the next major directional move.