Reliance Shares Rally Near Rs 1500 Resistance

Reliance Industries continued its strong rally on Friday, inching closer to the crucial Rs 1500 resistance level—a historically significant barrier. The stock has been outperforming the Nifty and boosting broader market sentiment in recent weeks.

SEBI-registered analyst Aditya Hujband notes the stock has surged from Rs 1150–Rs 1200 levels and now trades above all major moving averages, signaling solid short- and medium-term bullish momentum. Expanding Bollinger Bands suggest heightened volatility and sustained investor interest. However, with the Relative Strength Index (RSI) over 78, the stock appears overbought, hinting at a possible slowdown.

As Reliance nears Rs 1500, Aditya anticipates a pause or pullback unless a strong breakout with high volumes pushes it toward Rs 1600. If selling emerges, support lies around Rs 1365–Rs 1350, with deeper support at Rs 1300. He advises caution for new buyers and suggests existing holders consider trailing stop-losses or booking partial profits.