How to trade RIL stock post AGM? Tech charts hints at 9% downside risk

Reliance Industries share price may seek support around the 200-DMA for now; whereas the long-term chart hints at a potential re-test of the 50-MMA, a key technical support since March 2015.

Reliance stock on Monday slipped over 1 per cent in early deals to a low of ₹1,342 on the BSE in the first trading session post the Annual General Meeting (AGM) last week.  At Reliance Industries 48th AGM on August 29, the Mukesh Ambani family-led conglomerate unveiled future growth plans, and the much-anticipated public listing of Reliance Jio.  Reliance chairman Mukesh Ambani said Reliance Jio may be listed in the first half of 2026. That apart, the management  emphasized on Artificial Intelligence (AI) -driven ventures with Google, and Meta; and the expansion plans of its retail arm.   Meanwhile, on the bourses, Reliance stock has declined almost 13 per cent from its June high of ₹1,541. At present, the stock is seen trading below the key short-term moving averages - such as the 20-Day Moving Average (20-DMA), 50-DMA and the 100-DMA.  ALSO READ | Jio IPO, New Energy, AI focus: Brokerages decode RIL AGM and stock strategy  The daily chart suggests that the stock seems on course to test support around the long-term 200-DMA, which stands at ₹1,323. Technical chart also hints at a potential 8 per cent downside risk from present levels; here's why.    Reliance Industries  Current Price: ₹1,352  Likely Target: ₹1,235  Downside Risk: 8.7%  Support: ₹1,359; ₹1,339; ₹1,323  Resistance: ₹1,388; ₹1,410; ₹1,441  Key momentum oscillators have witnessed negative crossovers on the daily chart, thus implying a likely weak bias at Reliance counter in the near-term. 

 

 

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    Apart from the 200-DMA at ₹1,323; Reliance stock has support around the 100-Week Moving Average (100-WMA), which stands at ₹1,359. The key weekly trend line support stands at ₹1,339 - a weekly close below the can threaten a likely fall towards the 200-WMA, which near-about coincides with the 50-Month Moving Average (50-MMA) - a key technical indicator the stock has been holding for more than 10 years, since March 2015.  Technical chart shows that the 200-WMA stands at ₹1,245, and the 50-MMA at ₹1,235. In the December 2024 - April 2025 periods, Reliance stock despite repeated attempts managed to survive above the 50-MMA on a monthly closing basis, and then rebounded by up to 39 per cent from the April low.  For now, the short-term bias is likely to remain subdued as long as Relance trades below ₹1,441 levels; with interim resistance likely around the 20-DMA at ₹1,388 and ₹1,410 levels.