RIL stock tests 100-DMA post Q1 results; tech analysts flag key levels

Reliance stock has decisively crossed the 20-day EMA, and is seen hovering around the 200-week EMA, highlights Sudeep Shah, technical & derivative analyst at SBI Securities.

Reliance stock jumped 1.4 per cent to an intra-day high of ₹1,345.90, in Monday's trade reacting to the Q1 results announce last Friday after market hours.  In the process, the stock tested the 100-day moving average (100-DMA) for the first-time since May 8, 2026. The daily chart shows that the 100-DMA stands at ₹1,342.  Brokerages are bullish on Reliance Industries (RIL) stock post Q1 results owing to recovery in oil-to-chemicals (O2C) business, Jio value unlocking and a gradual ramp-up of the new energy business. Here's what brokerages say  Back on the NSE, RIL stock pared gains, and traded marginally (₹1 higher) at ₹1,329. Meanwhile, the NSE Nifty 50 was down 0.44 per cent at 24,228. 

Technical outlook on RIL stock by SBI Securities

  Amid today's volatility, Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities highlights that RIL stock staged a strong pullback of nearly 5 per cent from its recent low of ₹1,272, recorded on July 08, 2026.   

 

 

  Further, the stock the stock has decisively reclaimed the 20-day Exponential Moving Average (20-EMA), which earlier acted as a stiff resistance, thus indicating improving bullish momentum, says Shah.  Further, on the weekly chart, the analyst flags that Reliance has been hovering around its 200-week EMA over the past five weeks and is currently managing to sustain above this crucial long-term support.  "The ₹1,300–₹1,250 zone has consistently attracted buying interest, making it a key demand area. As long as the stock holds above this support zone, the ongoing pullback is likely to extend," explains the analyst. 

F&O cues for RIL stock

   Shah reckons that the derivatives data too points towards an improving outlook for IL stock. In the current (July) futures series, the stock gained 2.22 per cent till July 17, while open interest declined by 0.92 per cent, indicating short covering rather than fresh long build-up, said the analyst.  Analysing the options data, Shah says Call writers have been unwinding positions across the 1,290–1,330 strikes, while fresh put writing has emerged, signalling strengthening downside support and a reduction in bearish positioning.  "The 1,300 strike holds significant Put open interest, making it a strong support level for the current series," highlights Shah.  On the upside, the analyst believes ₹1,360 to act as an immediate hurdle for the stock. A decisive and sustained move above this level could pave the way for a further pullback towards ₹1,380, followed by ₹1,400 in the short term, Shah adds.  Meanwhile, analysts at Axis Securities see strong support for RIL stock in the ₹1,280-₹1,300 range, in case of a dip, owing to strong Put base.  Disclaimer: Views and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Reader's discretion is advised.