Bank stock jumps 5% after Tikri Partners bought 2.2% stake in the company via bulk deal
Stocktwits - Reliance Industries (NSE:RELI) could soon test the ₹1,500 mark, following a technical breakout and strong buying momentum on Friday, according to SEBI-registered analyst Deepak Pal.
At the time of writing, shares of Reliance Industries were trading at ₹1,455.3, down 0.7% on the day.
He said the stock took support near its 14-day exponential moving average (EMA) before rallying sharply, closing at ₹1,466.20 after hitting an intraday high of ₹1,469.20.
Pal noted the stock is trading above its 14-, 55-, and 200-day EMAs across daily, weekly, and monthly timeframes, with Parabolic stop and reverse (SAR) dots positioned below the price.
The moving average convergence divergence (MACD) remains in positive territory, and the relative strength index (RSI) at 64 indicates continued strength without entering overbought territory.
Pal said a dip toward the ₹1,425–1,430 zone could present a buying opportunity, with a suggested long-term stop-loss at ₹1,375.
It has a low debt-to-equity ratio of about 0.3 and a price-to-earnings ratio of about 24x.
Pal said Jio has over 470 million subscribers and Reliance Retail is expanding aggressively across India.
He also referred to the company’s solar, hydrogen, and clean energy investments as its future bets.
He said Reliance was his number one long-term pick and that the company has strong fundamentals, a disciplined growth track record, and a clear path ahead.
Pal said short-term technical corrections from geopolitical risks, such as the Middle East, would not affect the company’s technical and fundamental outlook.
The stock has risen 19.2% so far in 2025.