Reliance Industries Ltd. (NSE: RELIANCE), one of India’s largest and most tracked blue-chip stocks, is currently experiencing profit booking after a sharp uptrend that saw it cross the ₹1,560 level in early July 2025. As of July 11, 2025, the stock closed at ₹1,517.20, down by ₹1.80 (-0.12%), signaling bearish pressure near short-term resistance zones.
The stock has now broken its short-term rising trendline and is approaching the 20-day simple moving average (SMA), which could act as a decisive support. This article dives into the technical indicators, support-resistance levels, and trading strategies that investors should monitor closely.
📊 Reliance Stock Overview
| Metric | Value |
|---|---|
| Closing Price | ₹1,517.20 |
| Day’s Range | ₹1,507.50 – ₹1,524.70 |
| Change | -₹1.80 (-0.12%) |
| Volume | ~10.05 million |
| 20-Day SMA | ₹1,486.01 |
| Upper BB | ₹1,566.01 |
| Lower BB | ₹1,406.02 |
🔍 Technical Chart Insights (Daily Timeframe)
📉 Short-Term Trend Shift
- Reliance has witnessed three consecutive bearish candles, pulling back from recent highs.
- The stock has decisively broken the steep ascending trendline, which acted as dynamic support during its rally from late June.
🟦 Bollinger Band Contraction
- The price has pulled back from the upper Bollinger Band (₹1,566), a zone of overextension.
- It is now approaching the middle band (20-SMA) at ₹1,486 — a key area that may provide a technical bounce.
📉 Bearish Engulfing Confirmation
- On July 9, the candle pattern showed a bearish engulfing, indicating short-term trend reversal from the top.
- Follow-through selling on July 10 and 11 reinforces this bearish setup.
📌 Support & Resistance Levels
| Level Type | Price (₹) | Description |
|---|---|---|
| Immediate Resistance | ₹1,530 – ₹1,550 | Zone where price faced repeated rejection |
| Critical Support | ₹1,486 | 20-day SMA & Bollinger mid-band |
| Secondary Support | ₹1,413 | Prior range high, now acting as demand zone |
| Major Support | ₹1,396 | Consolidation breakout base from June |
🔮 What’s Next for Reliance?
✅ Bullish Scenario (Reversal from Support)
If the stock holds above ₹1,486 and forms a bullish candle:
- Buyers may re-enter around this level.
- Targets: ₹1,530 → ₹1,550 → ₹1,565 (recent top)
- RSI reversal from neutral zone may add to upside momentum.
⚠️ Bearish Scenario (Breakdown Below ₹1,486)
If Reliance closes below ₹1,486 with volume:
- It may trigger a short-term correction.
- Downside targets: ₹1,440 → ₹1,413 → ₹1,396
- Would confirm a trend reversal, at least in the short term.
📈 Volume Analysis
- Volume is gradually decreasing on each down day, indicating a lack of panic selling, but also lack of aggressive buying.
- A breakout or breakdown accompanied by a volume spike above 12–13M shares will confirm direction.
📊 RSI & Momentum
- RSI (14): Approaching neutral zone (likely near 50).
- If RSI bounces from midline, bullish recovery is possible.
- If RSI breaks below 45, it may signal extended correction.
🧠 Trading Strategy
For Positional Traders:
- Buy near ₹1,486 with SL at ₹1,475.
- Targets: ₹1,530 → ₹1,550.
- If breakdown below ₹1,486: Avoid fresh longs.
For Short Sellers:
- Short below ₹1,486 if closing is confirmed.
- Target zones: ₹1,440 → ₹1,413.
- Stop-loss: ₹1,500.
For Option Traders:
- Neutral view? Consider Iron Condor or Straddle around ₹1,500 strike.
- Bearish bias? Buy put options near ₹1,500 with SL at ₹1,530.
🌍 Fundamental Sentiment Drivers
- Q1FY26 Earnings (Expected Mid-July):
- Investors are awaiting earnings updates, especially in Jio, Retail, and Energy segments.
- A strong beat may rescue the stock from correction.
- Crude Oil Prices:
- Reliance’s refining margins are sensitive to crude volatility.
- Rising crude may hurt margins but benefit upstream oil businesses.
- Global Cues:
- Fed interest rate outlook and global equity sentiment will influence institutional flow in large-cap names like Reliance.
🗣️ Expert View
“Reliance is currently undergoing a healthy pullback after a sharp rally. ₹1,486 is the pivot zone to watch — a bounce from here will signal trend continuation, while a breach could open room for deeper corrections,”
— Ravi Malhotra, Senior Technical Analyst, EquityArena
🔗 Internal SEO Links Suggestions
📝 Conclusion
Reliance Industries Ltd. is at a critical juncture, with the stock testing its 20-day moving average and Bollinger band midline. The next few sessions will be crucial in determining whether it rebounds and resumes its uptrend or slips into a consolidation/correction phase. Traders should closely monitor the ₹1,486 level, as it will act as a technical fulcrum for the next leg of movement.
⚠️ Disclaimer
This analysis is for educational and informational purposes only. It does not constitute investment advice. Please consult with your financial advisor before making any stock market decisions.
