Reliance Industries advanced almost 1% to Rs 1,167 on Thursday leading into its September-quarter financial report. Technical indicators currently reflect oversold conditions, highlighted by a weekly Relative Strength Index of 35.12 and trading near the lower weekly Bollinger Band. While interest in Jio's initial public offering has prompted some bargain hunting, experts maintain a cautious view. If the stock manages a sustained recovery from support, it could target resistance in the Rs 1,280 to Rs 1,300 range.
Key points
A decisive move above the Rs 1,230 to Rs 1,234 range could confirm a bottom formation for…: A decisive move above the Rs 1,230 to Rs 1,234 range could confirm a bottom formation for the shares.
The Rs 1,130 price point serves as a pivotal downside support level during the current tr…: The Rs 1,130 price point serves as a pivotal downside support level during the current trading cycle.
Breaching key support levels risks resuming the broader downtrend toward targets as low a…: Breaching key support levels risks resuming the broader downtrend toward targets as low as Rs 1,040.
Sources checked by our analysis pipeline: 1
The Mukesh Ambani-led conglomerate heads into its September-quarter earnings announcement on Friday, with investors closely tracking whether an expected recovery in its refining business can support earnings growth.
RIL shares ended Thursday's trading session at Rs 1,167, up nearly 1% from the previous close of Rs 1,158.
ALSO READ: RIL Q2 Results Preview: Profit outlook brightens as O2C business set to drive growth
How RIL shares have performed on previous results days
Reliance Industries shares have witnessed mixed reactions on previous quarterly results days, with the stock declining on three occasions and rising on two in the last five results announcements. The sharpest gain was recorded on July 17, 2026, when the stock rose 2.59%, while the steepest decline was on April 24, 2026, when it fell 1.15%.The stock edged down 0.02% following the July 2025 results and gained 1.35% after the October 2025 announcement. It slipped 0.06% after the January 2026 results before declining 1.15% in April. However, the stock rebounded with a 2.59% gain following the July 2026 results.
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