- Reliance Industries (RIL) is currently trading around ₹1,378 and moving within a downward channel on the daily timeframe. Both daily and weekly charts highlight critical demand and supply zones that traders should keep in mind for the coming sessions.
Daily Demand Zones
- ₹1,280 – ₹1,320: Strong demand area; fresh buying opportunities may emerge if tested.
- Stop-Loss Strategy: Anyone holding Reliance should maintain a stop-loss near ₹1,340. A break below this level can expose the lower demand zone.
Supply / Resistance Zones
- ₹1,415 – ₹1,434: Daily supply zone; price may face resistance here.
- ₹1,490 – ₹1,500 (Weekly Supply Zone): Strong resistance area, where profit-booking or short opportunities could emerge.
Long-Term Buying Zone
- ₹1,100 – ₹1,200: Historical demand area; considered a strong “accumulation zone” where value investors often look for entries.
Trading Plan
- Upside Scenario: Reliance must close above ₹1,415 for momentum towards ₹1,490–₹1,500.
- Downside Scenario: A break below ₹1,340 could bring Reliance towards the ₹1,280–₹1,320 demand zone, offering fresh entry opportunities.
Technical View
The stock is clearly trending downward within a channel on the daily chart. Until a breakout occurs, Reliance is likely to oscillate between demand and supply zones, providing short-term trading setups for both sides.
Final Note
Reliance is consolidating within well-defined zones. Traders should watch ₹1,340 on the downside and ₹1,415 on the upside for directional cues. Investors may keep an eye on the ₹1,100–₹1,200 zone for long-term buying.
Disclaimer: This analysis is for educational purposes only. Please consult your financial advisor before making any investment or trading decisions.