RELIANCE INDUSTRIES LTD (RIL) based on the chart you shared, written so you can directly use it for client communication or a poster under Shreeji Finance & Investment, Hathijan Circle, Ahmedabad.
📊 RELIANCE INDUSTRIES LTD – TECHNICAL VIEW 🔍 Current Price (approx): ₹1,406 📉 Trend: BEARISH (Downtrend) 🔻 TREND ANALYSIS Price is making lower highs & lower lows
Trading below 9 EMA & short-term moving averages
Price is moving inside a falling channel
Any rise is facing selling pressure
➡️ Trend clearly favors SELL side
📌 SUPPORT & RESISTANCE LEVELS 🟢 Support Zones ₹1,400 – 1,395 (Immediate support – tested)
₹1,365 – 1,350 (Next strong support)
🔴 Resistance Zones ₹1,440 – 1,450 (Immediate resistance)
₹1,480 – 1,500 (Major supply zone)
📉 RSI (14) ANALYSIS RSI near 23–30 zone
Indicates oversold condition
No strong bullish divergence yet
RSI turning up slightly → short bounce possible, but trend still weak
⚠️ Oversold ≠ Buy confirmation ➡️ Wait for price action confirmation
🎯 TRADING PLAN (HIGH PROBABILITY) 🔴 SELL ON RISE (Preferred Setup) Sell Zone: ₹1,440 – 1,460
Target 1: ₹1,400
Target 2: ₹1,365
Stop Loss: ₹1,485 (Closing basis)
✅ Best setup as per trend & structure
🟢 BUY (Only for short-term bounce – Risky) Buy only if ₹1,450 breaks & sustains
Target: ₹1,480 – ₹1,500
Stop Loss: ₹1,395 ⚠️ Counter-trend trade – not positional
🧠 FINAL VIEW – WHICH SIDE MAKES PROFIT? ✔️ SELL SIDE has higher probability ✔️ Trend + Structure + EMA = Bearish Bias ✔️ RSI supports short-term bounce but not trend reversal
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