Technical view by Nooresh

Reliance Inds – A long term buy at 800-820

Reliance Inds - Buy


Reliance Inds Technical View


-> The stock has been a laggard ever since the top of 2008 at 1600 + levels. With a weightage of 8-10% this becomes an important one in coming couple of years.

-> Technically the stock tends to break short term supports before making a new move.

-> Over the last couple of years the range has been 760-920.

-> Currently the stock is testing an important 2 year trendline from where we can expect a short term bounce to 860-900.

-> We believe the 2 year range may break in the later part of the year and one can accumulate at 800-820. even if it dips to 760 one can look to add more.

-> The long term target would be 1100/1400.


Sharp traders can even look to use covered call strategy by writing March Calls of 880/900 strikes whenever the stock price rises.


Also have tried to create a short video looking at Reliance Industries technical chart.

Do check and let me know your feedback.


Also you can subscribe to our youtube channel for more videos.






Good to see around 400 + views on the Nifty analysis video – Do check it out.





Thanks and Regards,

Nooresh Merani

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Article by Nooresh Merani

Nooresh has written 2532 articles.

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