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Unite Technologies Financial

18th Aug · SEBI-Registered Analyst

Technical Analysis Reliance Industries

The stock

RELIANCE
is currently showing a sideways to mildly positive structure on the daily chart. After a prolonged decline from the ₹1600 zone the stock found strong support around ₹1260–1280 and has since entered a consolidation phase. Recent price action shows some higher lows suggesting buying interest is gradually returning but the broader trend has not yet turned strongly bullish. Support & Resistance: Immediate support is around ₹1300–1280 followed by strong support near ₹1260–1250. On the upside, ₹1340–1360 is the key resistance zone. A decisive breakout above ₹1360 with strong volume can push the stock towards ₹1400–1440. Short-Term Outlook: The setup is neutral-to-positive while the stock holds above ₹1280. Fresh buyers can wait for a breakout above ₹1360 or consider accumulation near ₹1300–1280 with proper risk management. Existing holders can continue holding with a trailing stop-loss around ₹1270. A close below ₹1260 would weaken the recovery structure.

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