Is Reliance Gearing Up for a Massive Move?

Reliance Industries Limited is compressing tightly at the 1,300 – 1,302 level, trapped between a descending resistance line and multi-week rising trendline support. A decisive breakout is imminent. Key Levels to Watch Resistance: 1,315 – 1,320 (Descending trendline & recent lower high) Support: 1,298 – 1,302 (Confluence of horizontal base & rising trendline) Invalidation / Breakdown Level: Below 1,295 Trade Setups 1. Support & Resistance Range Play Long Entry: Bullish reversal at 1,300 – 1,302. Stop-Loss: Below 1,295. Target: 1,315 – 1,320. 2. Pullback on Breakout Bullish Expansion: Let price break above 1,318. Add long on the pullback/retest of 1,310 – 1,315. Target: 1,335 – 1,340 | Stop-Loss: Below 1,305. Bearish Breakdown: Wait for a 45m close below 1,298. Enter short on a failed retest of 1,300. Target: 1,280 – 1,270 | Stop-Loss: Above 1,308.