A TECHNICAL VIEW ON RELIANCE IND LTD-19.5.2025

 

RELIANCE IND LTD

 Open—-1453.20---High---1461---Low---1447.30—Close—1456.40 on 16.5.2025.

Support:1455/1439.50/1427/1414/1412.40/1405/1374.50/1359.30/1326/1307.20/1285.40/1271.05/1244/1218.50/1201.50/1193.35/1158/1114.85.

Resistance:1461.40/1463/1480.20/1487.40/1493.35/1505.95/1510/1512.45/1514.50/1527.50/1533.47/1539.72/1542.78/1563.25/1585/1608.85/

(Bold and underlined figures are most important)

 Technically it is on a good footing for the continuation of the up-move, but moving up it has a strong resistance range of 1463---1493----1510 and if it moves above 1510 and sustain on the closing basis then it could retest its all-time high of 1608.80 or may go beyond it. Similarly moving down its will find good support in the range of 1455---1427----1412.50---1405, if it holds this range chances of up-move will be alive, but break below this range may trigger fresh fall and finally break & sustained close below 1374.50 may accelerate the fall.

REMARKS: - It is in the long term uptrend as of now but at the critical juncture now, therefore it is suggested that one can structure their trade following the support and resistance range or points. Please be alert in your trades at this point of time. It is suggested to avoid long trade below the range of 1455---1441 but can be tried near 1413 or above 1463 with proper stop losses.

NOTE: - It is a technical assessment of the stock as of now, the technical interpretation changes with the price movement and time, therefore it has to be reviewed at regular intervals, furthermore  investors are advised to look into fundamental, financial details of the company because that too keeps on changing and last but not the least management perception for the future of the company before taking investment decision.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view. It is for the educational purpose.

 Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

                                   Note: Price stated here are of spot market.

 

Contact me for strategic guidance to enter and exit trade.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.