Reliance Shares Cool Off Near 52-Week Peak; Rally Paused or Just Reloading? Check RIL Technical Analysis

Reliance Industries Limited (RIL) shares witnessed a volatile trading session on Wednesday. The stock, backed by Mukesh Ambani, came close to touching its 52-week high but eventually slipped nearly 1.5% by the end of the day. The major dip in Reliance shares came amid reports of delay in Jio IPO.

Reliance Industries Limited (RIL) shares closed 1.28% lower at Rs 1519.05 per share on BSE on Wednesday, with a market capitalisation Rs 20,55,650.26 crore. The BSE heavyweight surged nearly 1% to touch an intraday high mark of Rs 1551 per share. Whereas, the stock was at its 52-week high mark of Rs 1,605.73 per share, nearly a year-ago on 15 July, 2024.

Will RIL Reclaim Its Peak? Here's What Technical Analysis Says

The Reliance Industries stock is currently witnessing a robust move. The stock has surged by 5.56% in the past month and by 0.36% in the past five days. The strong undertone has helped the stock to sustain the positive bias even during the volatility and geo-political tensions, according to Shiju Koothupalakkal, Technical Research, PL Capital.

"The stock recently has witnessed a strong robust move from the low made near 1115 zone and technically, had given a clear breakout above the descending channel pattern on the daily chart at 1350 zone which is also where the important 200 period MA was positioned, to strengthen the trend and thereafter, has carried on with the positive move further ahead maintaining above the significant 50EMA zone as of now," stated Koothupalakkal.

What To Expect If RIL Reclaims Its 52-Week High Mark?

The analyst believes that reclaiming the peak would open gates for RIL to touch further targets of 1730 and even 1850 levels.

"Overall the undertone has been strong which helped the stock to sustain the positive bias even during the volatility and geo-political tensions looming around and surged ahead further, after recently, a wedge pattern breakout was triggered at 1470 level.
Currently, with the bias maintained positive we expect the stock to retest the previous peak zone of 1608 level in the coming days once the resistance zone near 1540-1550 band is decisively breached. The near-term support would be positioned near the important 50EMA zone at 1440 level which needs to be sustained to maintain the overall bias intact.
Once the peak zone of 1600 level is conquered, it shall open the gates for further higher targets of 1730 and 1850 levels as per the technical Fibonacci extensions," explained Koothupalakkal.

RIL Share Price Trend

RIL shares ended in red on Wednesday at Rs 1519.5 per share on BSE. The stock had dipped to its 52-week low mark of Rs 1,115.55 per share. Its value has surged by 5% in one week. But its value has declined around 4.47% since the beginning of the year 2025. The stock has surged around 37% in three years.

Jio IPO Delayed

The much awaited initial public offering of Reliance-owned Jio was reportedly postponed for 2025, according to news agency Reuters on Wednesday. The development likely impacted the investors' sentiment during the previous trading session.

Indian telecoms and digital giant Reliance Jio Platforms, led by billionaire Mukesh Ambani, has decided not to launch its planned IPO this year, delaying one of the country's most anticipated stock offerings, two people familiar with the matter said.

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