๐ Reliance Industries โ Intraday Overview
Previous Close: โน1,428.6
Opening Price: Opened slightly lower around โน1,427โโน1,431.
Intraday High: Approximately โน1,432 during early session.
Intraday Low: Dropped towards โน1,410 during the mid-session.
Current Trading Price: Trading near โน1,415, showing around 0.9% to 1% decline from the previous close.
๐ Key Reasons for Movement Today
Post-Earnings Pressure: After recent earnings, Reliance faced profit booking as some investors booked gains following a previous rally.
Sector Weakness: Energy and telecom segments showed subdued strength while retail remained flat.
Heavy Volume: Trading volume remained above average, suggesting active participation from institutions and retail traders.
๐ Technical Snapshot
Immediate Support Zone: โน1,410โโน1,412. If this breaks, next support could be near โน1,400.
Immediate Resistance Zone: โน1,430โโน1,432. A breakout above this may lead towards โน1,440โโน1,450.
Trend Positioning: Reliance is currently below its short-term (20-day) moving average, indicating mild short-term weakness but no major breakdown.
๐ก Intraday Strategy Levels
Scenario Trigger Point Expected Move
Bullish Reversal Above โน1,432 Potential upside towards โน1,445โโน1,450
Neutral/Bearish Between โน1,410โโน1,430 Consolidation zone with limited moves
Breakdown Risk Below โน1,410 Could slide to โน1,400 or even โน1,390 short-term
โ Summary Conclusion
Reliance is trading with a mild negative bias, with price action holding between โน1,410โโน1,432. The overall short-term structure remains weak after intraday profit booking, but key support is holding near โน1,410. Watch for recovery above โน1,432 for any bullish reversal or break below โน1,410 for further downside.
Previous Close: โน1,428.6
Opening Price: Opened slightly lower around โน1,427โโน1,431.
Intraday High: Approximately โน1,432 during early session.
Intraday Low: Dropped towards โน1,410 during the mid-session.
Current Trading Price: Trading near โน1,415, showing around 0.9% to 1% decline from the previous close.
๐ Key Reasons for Movement Today
Post-Earnings Pressure: After recent earnings, Reliance faced profit booking as some investors booked gains following a previous rally.
Sector Weakness: Energy and telecom segments showed subdued strength while retail remained flat.
Heavy Volume: Trading volume remained above average, suggesting active participation from institutions and retail traders.
๐ Technical Snapshot
Immediate Support Zone: โน1,410โโน1,412. If this breaks, next support could be near โน1,400.
Immediate Resistance Zone: โน1,430โโน1,432. A breakout above this may lead towards โน1,440โโน1,450.
Trend Positioning: Reliance is currently below its short-term (20-day) moving average, indicating mild short-term weakness but no major breakdown.
๐ก Intraday Strategy Levels
Scenario Trigger Point Expected Move
Bullish Reversal Above โน1,432 Potential upside towards โน1,445โโน1,450
Neutral/Bearish Between โน1,410โโน1,430 Consolidation zone with limited moves
Breakdown Risk Below โน1,410 Could slide to โน1,400 or even โน1,390 short-term
โ Summary Conclusion
Reliance is trading with a mild negative bias, with price action holding between โน1,410โโน1,432. The overall short-term structure remains weak after intraday profit booking, but key support is holding near โน1,410. Watch for recovery above โน1,432 for any bullish reversal or break below โน1,410 for further downside.
Hello Guys ..
WhatsApp link- wa.link/d997q0
Email - techncialexpress@gmail.com ...
Script Coder/Trader//Investor from India. Drop a comment or DM if you have any questions! Letโs grow together!
WhatsApp link- wa.link/d997q0
Email - techncialexpress@gmail.com ...
Script Coder/Trader//Investor from India. Drop a comment or DM if you have any questions! Letโs grow together!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Hello Guys ..
WhatsApp link- wa.link/d997q0
Email - techncialexpress@gmail.com ...
Script Coder/Trader//Investor from India. Drop a comment or DM if you have any questions! Letโs grow together!
WhatsApp link- wa.link/d997q0
Email - techncialexpress@gmail.com ...
Script Coder/Trader//Investor from India. Drop a comment or DM if you have any questions! Letโs grow together!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.