RELIANCE INDUSTRIES LTD
Open—1401--High---1404.70---Low—1345--Close---1348.10 on 27.3.2026.
All-Time High:-1611.80 made on 5.1.2026
All-Time Low:-6.65 made in 1996.
Recent Low:-1114.85 made on 7.4.2025.
The overall technical setup is very weak and the long term
uptrend is potentially threatened, therefore it is likely to go down further in
the coming days. Moving down its important support range could be as follows:-
1. 1336----1289---1260.
2.1231----1114--- break
& sustained close below 1114 may witness an accelerated
fall and can drag it down to 990 levels or lower.
Similarly the following points are termed as make or break
bottom and are supposed to be a strong support points:-
1.1517.60.—----IT IS BELOW
IT NOW.
2.1356.90.—----IT IS BELOW
IT NOW.
3. 1340.60.
4.1289. BEAR MARKET THRESHOLD POINT
–sustained break may trigger fresh fall.
5.1114.85. VERY CRITICAL POINT—sustained
break may accelerate the fall.
6.1097.21.
7.990.
8.915.64.
9.852.27.
10.831.06.
It is suggested to buy in a staggered manner only once it gives visible indication that the fall is arrested or downside may be limited and if it holds any of the support points or range as mentioned above for some time then start buying with a strict stop losses. Please note that 1289 & 1114.85 is a very critical support point and break & sustained close below it may witness an accelerated fall and as of now the overall technical setup indicates that it is likely to break these point in coming days, so watch out. It is suggested not to hurry for buying because overall market condition is very fluid and sentiments are at the lowest at this point of time.
It is important to
mention here that investor can get good companies stock cheaper only when the technical
parameters are weak, therefore for investor those who are slight risk taker and
have patience and can hold the stock for 3-5 years time period should only buy in
a staggered manner with the help of above observation for good or handsome
return. Similarly for the risk-averse investor one should only buy when it
gives distinct indication of bottoming out and consistently start moving up,
but in this case one will get the stock at a higher price.
REMARKS;-In view of the above observation for long term investors one
should structure their buying as suggested above.
FOR SHORT TERM TRADERS
OR INVESTORS.
S.N BUYING RANGE OR POINT
STOP—LOSS
REMARKS
1. 1307----1289 1260 FOR AGGRESSIVE TRADER/INVESTOR.
2. 1214---1114 1090 FOR SLIGHTLY SAFE TRADER/INVESTOR.
3. 1114 1090 FOR REASONABLY SAFE TRADER/INVESTOR.
FOR LONG
TERM INVESTORS
Initiate buying
near or if it breaks 1289 then buy near 1214, 1114,1097,990 in a staggered
manner and buy only half of the targeted quantity and buy rest of the quantity
only once it moves above 1289 and sustain on the closing basis with a stop loss
of 1250.
IMPORTANT: DO NOT TRADE OR
INVEST WITHOUT STOP LOSS.
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:- I am not a SEBI registered technical
analyst. The view expressed here are solely of the author and purely for the
academic and educational purpose. This is in no way a trading or investment
advice.
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
Mobile—8240951127/9831313654.
