Reliance 1D Timeframe

📊 Reliance Industries – Intraday Overview
Previous Close: ₹1,428.6

Opening Price: Opened slightly lower around ₹1,427–₹1,431.

Intraday High: Approximately ₹1,432 during early session.

Intraday Low: Dropped towards ₹1,410 during the mid-session.

Current Trading Price: Trading near ₹1,415, showing around 0.9% to 1% decline from the previous close.

🔍 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.

📈 Technical Snapshot
Immediate Support Zone: ₹1,410–₹1,412. If this breaks, next support could be near ₹1,400.

Immediate Resistance Zone: ₹1,430–₹1,432. A breakout above this may lead towards ₹1,440–₹1,450.

Trend Positioning: Reliance is currently below its short-term (20-day) moving average, indicating mild short-term weakness but no major breakdown.

💡 Intraday Strategy Levels
Scenario Trigger Point Expected Move
Bullish Reversal Above ₹1,432 Potential upside towards ₹1,445–₹1,450
Neutral/Bearish Between ₹1,410–₹1,430 Consolidation zone with limited moves
Breakdown Risk Below ₹1,410 Could slide to ₹1,400 or even ₹1,390 short-term

✅ Summary Conclusion
Reliance is trading with a mild negative bias, with price action holding between ₹1,410–₹1,432. The overall short-term structure remains weak after intraday profit booking, but key support is holding near ₹1,410. Watch for recovery above ₹1,432 for any bullish reversal or break below ₹1,410 for further downside.