Reliance Industries Futures – Weekly Analysis (29 Sep. -3 Oct.)

RELIANCE1!
Reliance is currently consolidating at 1,379.40, recovering slightly after a steep correction and oscillating around critical inflection levels for the upcoming week.

Bullish Weekly Structure
Long Entry Zone (1,376):

The weekly long setup activates above 1,376, signaling buyers taking control after defending major support, with momentum favoring an upward retracement.

Additional long exposure can be considered near 1,370 if retracement holds, allowing for a safer pyramiding.

Upside Weekly Targets:

1,405 (Target 1): This zone marks a logical area for booking profits as it aligns with prior reactions and supply from September highs.

1,422 (Target 2): Represents the upper extension, likely facing seller resistance if bullish momentum persists during the week.

Stop Placement:

Consider stops below 1,361 (weekly long exit), which is the last buffer before a major bearish slide.

Bearish Weekly Structure
Short Entry Zone (1,365):

Weekly shorts activate below 1,365 if bears sustain control and price breaks through consolidation support.

Downside Weekly Targets:

1,352 (Target 1): Initial area for booking profits; prior bounce area and psychological support.

1,336 (Target 2): Next mapped target, highlighting further weakness and a bearish weekly extension.

Short Stop Logic:

Cover shorts above 1,379 or on a sustained close above 1,376 weekly entry zone to minimize risk.

Range/Neutral Weekly Logic
Neutral Zone (1,379):

The area between 1,376–1,380 may see indecision and choppy action at the start of the week, best left for low-exposure or range setups.

Weekly close above 1,380 favors further recovery; below 1,365 highlights increased bearish risk.

This weekly structure provides a logical and disciplined approach to trading Reliance on the NSE, supporting both trending and reversal trades with mapped levels and stops.

Follow Chart Pathik for more positional updates on NSE stock futures.