Technical Analysis of Reliance Industries Ltd. (2969)

25 ก.ย.

Current Price Action: Based on the chart provided for Reliance Industries Ltd., the stock is trading around ₹2969 as of today’s session. Over the last few sessions, the stock has been showing signs of recovery after reaching a support level near ₹2860.

Moving Averages:

21-Day EMA: The price is trading near the 21-day Exponential Moving Average (EMA) at around ₹2965, which is acting as a short-term resistance. A sustained move above this level could signal further bullish momentum.
200-Day EMA: The 200-day EMA at ₹2861 is providing strong support. Historically, Reliance tends to respect this long-term average, making it a reliable indicator for trend reversals or continuations.
Volume:

There has been a notable increase in volume in the last few sessions, indicating strong interest from institutional and retail investors around the current price range. This could be an early signal of a larger move.

Strategy:

Buy Zone: ₹2965 - ₹2980
Stop Loss: Below ₹2850 (based on 200-day EMA support)
Target 1: ₹3040 (short-term)
Target 2: ₹3240 (medium-term)
Target 3: 3400+++