Reliance Industries Share Slips to ₹1,268 in Early Trade; Down 0.5% on Profit Booking
Reliance Industries share dipped 0.5% at market open amid broad-based selling in heavyweight stocks. Key support levels in focus.
Key Highlights:
Reliance Industries Share Drops 0.50% to ₹1,268 in Early Trade
Reliance Industries Share witnessed selling pressure in early trading hours on Monday, slipping ₹6.40 or 0.50% to quote at ₹1,268.10 as of 09:22 AM IST. The decline comes amid mild profit booking in large-cap energy and telecom counters after recent gains.
Despite a positive market start, Reliance underperformed due to sector rotation and caution ahead of its Q4 earnings scheduled later this week.
Reliance Stock Under Pressure Despite Nifty Gains
Investors appear to be trimming positions in index-heavyweights like Reliance to rotate into outperforming sectors such as banking and IT.
Key dampeners:
- Lack of fresh triggers in oil-to-chemicals business
- Awaited updates on Jio Financial demerger and retail arm restructuring
- Global crude prices remain range-bound
Peer Comparison: Energy Pack Mixed
| Stock | Price (₹) | Change (%) |
|---|---|---|
| Reliance Industries | 1,268.10 | -0.50% |
| ONGC | 278.50 | +0.45% |
| Oil India | 553.40 | +0.60% |
| Adani Total Gas | 865.20 | -0.25% |
| GAIL | 202.10 | +0.15% |
While upstream oil players were in the green, Reliance lagged, pulling the broader energy index slightly lower.
Reliance Share: Key Technical Levels to Watch
| Level Type | Price (₹) |
|---|---|
| Immediate Support | 1,260 |
| Strong Support | 1,245 |
| Immediate Resistance | 1,280 |
| Major Breakout Zone | 1,300 |
A breakdown below ₹1,260 could invite further downside, while recovery above ₹1,280 is crucial for a trend reversal.
What Analysts Are Saying About Reliance
- Motilal Oswal: “Neutral view ahead of earnings; expect muted O2C performance.”
- HDFC Securities: “Jio ARPU growth and retail expansion hold long-term promise; short-term consolidation likely.”
- CLSA: “Maintain Buy; target ₹1,450. Awaiting more clarity on consumer business.”
Final Word on Reliance Industries Share Today
Reliance Industries share opened weak despite bullish market cues, reflecting sectoral churn and earnings caution. Investors are advised to track ₹1,260 support closely. Near-term movement will hinge on management commentary in upcoming results and clarity on Jio/retail restructuring.
Stay updated with the latest from Hindustan Herald — your trusted source for
Politics, Business, Sports, Entertainment, Lifestyle, Breaking News, and More.
📲 Follow us on Facebook, Instagram, Twitter, LinkedIn, and YouTube
🔔 Join our Telegram channel @hindustanherald for real-time news alerts.
