Reliance Support and Resistance Zones for Swing Trading

Reliance Chart Analysis & Short term & Long Term Targets


Support Levels

Reliance Industries has a major support around ₹1200. The stock has taken support at this level twice. If it takes support here again, pay attention to the weekly candle closing.
If the stock dips below ₹1200 during the budget time, wait for the price to close above ₹1200 again.
Reliance Industries' extended support is around ₹1150.
If Nifty comes near the 20,000 mark, Reliance may reach its second major support level near ₹1000.

Resistance Levels

The resistance for Reliance stock is at ₹1320.
The major resistance is at ₹1620. Whenever the stock closes above this level on a weekly candle, the stock may witness a further rally.

Reliance Trading and Investment Opportunities


Short-Term Trading: Keep the ₹1200 and ₹1150 levels in mind to take a Long Position. The first short-term target is ₹1450. Trade with a stop-loss and a proper entry-exit plan.

Long-Term Investors
For long-term investors, this is also a good opportunity. Alternatively, you can wait for the upcoming budget.
If the stock breaks its all-time high, there could be significant targets in the future.