Reliance Industries is consolidating near the ₹1270–₹1300 support zone with a bullish hammer formation. The buying range is ₹1330–₹1350, with a target of ₹1474 over six months. Weekly RSI is oversold, suggesting a price pullback.
Reliance Industries stock has undergone a corrective phase over the past three months and is currently consolidating near a crucial support zone. This setup presents a defined risk-reward structure based on key technical factors.
Parameter | Details |
Stock | Reliance Industries |
Buying Range | ₹1330 – ₹1350 |
Target | ₹1474 |
Return Opportunity | 10% |
Time Period | 6 Months |
Source: Bajaj Broking Research Desk
Stock is forming a bullish hammer candlestick pattern on the weekly chart near the ₹1270–₹1300 demand zone.
The ₹1270–₹1300 range acts as a crucial support area.
The support zone is reinforced by:
61.8% retracement of the April 2025 – January 2026 up move (₹1115 – ₹1611)
The 200-week EMA is placed around ₹1292
The previous breakout area near ₹1300 is acting as support, as per the change of polarity concept
Price action indicates the corrective phase is nearing exhaustion.
Target ₹1474 represents the February 2026 high and 61.8% retracement of the recent decline (₹1611–₹1290).
Weekly 14-period RSI is placed in oversold territory with a reading of 40.
Reliance Industries is consolidating near the ₹1270–₹1300 support zone with buying demand emerging from the 200-week EMA and key retracement levels. The setup includes defined levels of ₹1330–₹1350, a target of ₹1474, and a 6-month time period.
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