RELIANCE Stock Analysis: Symmetrical Triangle Breakout Setup for 30-May-2025
Reliance Industries Ltd (NSE: RELIANCE) is currently exhibiting a tense price action setup, hovering around ₹1413.50, with volatility steadily compressing within a symmetrical triangle pattern on the hourly chart. Here’s a comprehensive breakdown of the technical indicators, key support and resistance levels, and possible trade setups.
Chart Pattern Overview
The stock has been consolidating within a symmetrical triangle for the past several sessions. This pattern typically indicates a buildup of momentum for a breakout or breakdown in either direction.
- Upper Trendline Resistance: ₹1420
- Lower Trendline Support: ₹1410
- Breakout Zone: Above ₹1425
- Breakdown Zone: Below ₹1410
Technical Indicators
- Relative Strength Index (RSI – 14 period): 39 (Weak / Bearish Bias)
- Supertrend (10, 3): Sell Signal Active
- Simple Moving Averages:
- 20 SMA: ₹1417.20
- 50 SMA: ₹1422.80
- 200 SMA: ₹1395.30
Key Support & Resistance Levels
| Level | Price (₹) |
|---|---|
| Immediate Support | 1410 |
| Next Support | 1390 |
| Major Support | 1380 |
| Immediate Resistance | 1420 |
| Next Resistance | 1430 |
| Breakout Level | 1425 |
| Breakdown Level | 1410 |
Trade Setup Idea
- Sell Below: ₹1410
- Target 1: ₹1390
- Target 2: ₹1380
- Stop-Loss: ₹1425
- Buy Above: ₹1425
- Target 1: ₹1435
- Target 2: ₹1450
- Stop-Loss: ₹1410
Conclusion
Reliance Industries is at a critical juncture. With a tightening triangle pattern and RSI indicating weakness, traders should closely watch the ₹1410 level. A breakdown here could accelerate towards ₹1390–₹1380, while a breakout above ₹1425 could briefly revive bullish momentum.
Risk management is key in such setups. Use strict stop-losses and confirm price action with volume before entry.
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Disclaimer: This analysis is for educational and informational purposes only and does not constitute investment advice. Please consult your financial advisor before making any trading decisions.
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