Reliance Nears Make-or-Break Zone: SEBI Analyst Flags Fatigue Near ₹1,560 Barrier, Retail Caution

Reliance Industries is showing signs of fatigue as it hovers between key technical levels.

While the long-term trend remains intact, SEBI-registered analyst Rajneesh Sharma noted that price momentum has been stalling around the ₹1,500–₹1,560 mark — a zone that has consistently triggered selling pressure in the past.

The stock has struggled to break above this range, with multiple sharp rejections pointing to a supply-heavy zone.

“Reliance is nearing a make-or-break zone, but what’s fascinating isn't just the price — it's the behavior around it,” Sharma said. 

On the downside, dips toward ₹1,200–₹1,250 have attracted buying, keeping the broader structure in check.

Technically, the stock is holding above an ascending trendline that dates back to 2021, while also retesting a downtrend line from 2023 that was breached earlier this year. 

Recent price action shows a reversal near the top of a rising channel, where multiple resistance points have converged, adding to the challenge for any clean breakout.

Sharma flagged three zones that traders should keep an eye on: resistance at ₹1,500–₹1,560, a mid-pivot near ₹1,398, and a support zone between ₹1,250–₹1,200. 

If Reliance manages a convincing breakout above ₹1,560 with strong volume, Sharma said a move toward ₹1,610 is possible. 

On the flip side, if rejection deepens, a slide toward ₹1,398 and even ₹1,250 isn’t off the table.

Weekly candles have started showing upper wicks, a classic signal of sellers stepping in near recent highs. 

There’s no confirmed breakout just yet, Sharma noted, adding that the current behavior reflects a market in pause mode, not in a strong trend.

On Stocktwits, retail sentiment was ‘bearish’ amid ‘normal’ message volume.

The stock has risen 21.1% so far in 2025.

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