Reliance Industries Ltd stock of the view and trend buy above

 

FIRST TARGET DONE IT MAKE HIGH  1281 CMP 21/3/2025 

Technical Analysis of Reliance Industries Ltd (1-Hour Chart) BUY above  1258 

From the provided chart, here’s a breakdown of targets, stop-loss, support & resistance levels, and a technical view based on Fibonacci retracement, price action, and indicators.

1. Support & Resistance Levels

Support Levels:

1,217.20 (50% Fibonacci retracement)

1,157.10 (38.2% Fibonacci retracement, strong support)

Resistance Levels:

1,258.80 (61.8% Fibonacci retracement, critical resistance)

1,266.00 - 1,290.80 (previous supply zone)

1,330.60 (next major resistance, close to 78.6% Fibonacci level)

2. Target & Stop-Loss Strategy

Bullish Scenario (If price holds above 1,217.20)

Target 1: 1,258.80 (61.8% Fibonacci level)

Target 2: 1,290.80 (Resistance zone)

Target 3: 1,330.60 (Strong resistance)

Stop-loss: Below 1,217.20 (if price breaks this level, bearish trend may continue)

Bearish Scenario (If price falls below 1,217.20)

Target 1: 1,157.10 (38.2% Fibonacci support)

Target 2: 1,100 (psychological support level)

Stop-loss: Above 1,258.80 (if price moves beyond this, trend turns bullish)

3. Technical Indicators

Fibonacci Retracement: Price is hovering near 50%-61.8% retracement, a key decision area.

Volume Analysis: Recent volume is moderate; watch for volume spikes near support/resistance.

Stochastic RSI:

The RSI is around 47.61, indicating a neutral zone.

If it crosses above 50 and moves towards 70, bullish momentum may return.

If it drops below 40, bearish movement may continue.

Conclusion

Bullish View: If the price holds above 1,217.20, a breakout above 1,258.80 could push it towards 1,290.80 and 1,330.60.

Bearish View: A breakdown below 1,217.20 could lead to further downside towards 1,157.10.

Reliance Industries Ltd (NSE) - Short, Medium & Long-Term View

Based on the 1-hour chart, Fibonacci levels, support/resistance, and indicators, here’s a structured outlook:

1. Short-Term View (Next Few Days to 1-2 Weeks)

Current Trend: Neutral to Bearish (Price is struggling around the 50%-61.8% Fibonacci retracement)

Key Support: 1,217.20 (50% Fibonacci), 1,157.10 (38.2% Fibonacci)

Key Resistance: 1,258.80 (61.8% Fibonacci), 1,290.80 (previous supply zone)

Trade Setup:

Bullish: If price stays above 1,217.20 and crosses 1,258.80, expect a move toward 1,290.80

Bearish: If price breaks below 1,217.20, expect downside toward 1,157.10

Indicators:

Stochastic RSI is neutral, suggesting a consolidation phase before a clear move.

Watch for a breakout above 1,258.80 for bullish confirmation.

📌 Short-term Bias: Sideways to bearish unless 1,258.80 breaks.

2. Medium-Term View (1-3 Months)

Current Trend: Recovery Phase from Recent Downtrend

Key Levels:

Upside: 1,290.80 → 1,330.60

Downside: 1,157.10 → 1,100

Market Behavior:

If the stock sustains above 1,217.20, it could test 1,290.80 - 1,330.60 over the next 2-3 months.

If it breaks below 1,157.10, further downside is expected.

Technical Signal: Price is testing key retracement levels, meaning a breakout in either direction is imminent.

📌 Medium-term Bias: Cautiously bullish if 1,217.20 holds and price moves above 1,258.80.

3. Long-Term View (3+ Months to a Year)

Current Trend: Recovery Potential if 1,330.60 is Broken

Key Resistance: 1,330.60 (major breakout zone)

Key Support: 1,100 - 1,157.10 (long-term demand zone)

Factors to Watch:

If price breaks and holds above 1,330.60, it could trigger a long-term uptrend.

Below 1,100, a deeper correction might happen.

Fundamental drivers (earnings, crude oil prices, market sentiment) will play a role.

📌 Long-term Bias: Bullish above 1,330.60, bearish below 1,100.

Final Summary

Short-term (1-2 weeks): Sideways to bearish unless 1,258.80 is broken.

Medium-term (1-3 months): Cautiously bullish if price holds 1,217.20 and breaks 1,258.80.

Long-term (3+ months): Bullish above 1,330.60, bearish if below 1,100.