RIL shares fall 21% from record high; here are key technical levels to watch  

Shares of market heavyweight Reliance Industries Ltd (RIL) are down 21% from their record high amid correction in the broader market during the same period. RIL shares hit their record high of Rs 1,608.95 on July 8, 2024. Around 14% or two-third of the correction in the RIL stock came in the last six months.

At the current level, RIL shares stand near their 52-week low of Rs 1,156 on March 3, 2025.

On Friday, RIL shares closed 0.62% higher at Rs 1276.45 against the previous close of Rs Rs 1268.55. Market cap of the firm rose to Rs 17.27 lakh crore. Total 3.61 lakh shares of the firm changed hands amounting to a turnover of Rs 46.14 crore on BSE today.

RIL stock has lost 12% in a year.

The stock has a beta of 1.2, indicating high volatility in a year.

In terms of technicals, the relative strength index (RSI) of RIL stock stands at 60.7, signaling it's trading neither in the oversold nor in the overbought zone. RIL shares stand higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day but lower than the 150 day and 200 day moving averages.

Shiju Koothupalakkal, Technical Analyst, PL Capital said "The stock after bottoming out near Rs 1160 zone has witnessed a significant pullback, with recently moving past the important 50EMA zone at 1240 levels improving the bias and currently has breached above the 100 period MA at Rs 1256 level after six months to indicate strength, and can anticipate further rise in the coming days with target of Rs 1,370 achievable. With strength sustaining, the stock can carry on with the upside move for next target of Rs 1550 level to retest the peak made during the September 2024."

Osho Krishan, Senior Analyst - Technical & Derivatives, Angel One said, "Reliance has experienced a significant correction of over 20% from its peak of Rs 1608 within the last 7-8 months, and it has recently dipped slightly below the neckline of a multi-month breakout observed in December 2023. Currently, the stock is showing stability around the neckline zone of Rs 1250-1220, providing some support to the overall market. Based on historical trends, it is expected that the stock will regain momentum once it breaks above the resistance levels of Rs 1280-1300."

"The technical indicators have moved out of the oversold territory and sustained buying above this resistance could provide the necessary boost for the stock in the near future. As Reliance is a heavyweight counter, a gradual upward movement is anticipated, with key resistance levels around Rs 1320-1330, followed by Rs 1365 (200 DSMA). This presents an opportunity to accumulate shares from a medium to long-term perspective while continuing to monitor market developments regularly," added Krishan.