RELIANCE Support & Resistance long levels

Reliance Industries Ltd. (RELIANCE) is one of India's largest conglomerates with diverse interests across sectors such as petrochemicals, refining, telecommunications, retail, and digital services. Given its size and market influence, Reliance is a key stock in the Indian stock market, often reflecting broader economic trends. Identifying support and resistance levels for Reliance can help traders and investors make informed decisions.

Support Levels:
₹2,400 - ₹2,420 (Strong Support Zone):

If Reliance has repeatedly found support around ₹2,400 - ₹2,420, this could be a key support zone. A move below this zone could signal deeper correction, with the next support around ₹2,350 or ₹2,300.
₹2,300 (Psychological Support):

₹2,300 is a psychological level and may serve as a significant support point. If Reliance falls towards this level, there could be buying interest from long-term investors, pushing the price upward.
₹2,200 (Previous Low / Support):

If ₹2,200 has acted as a strong point of reversal in the past, it may serve as a strong support level. A break below ₹2,200 would likely indicate a more pronounced bearish trend.
₹2,100 (Lower Support Zone):

In a worst-case scenario, ₹2,100 might act as a lower support level, especially if the broader market faces a correction. If the price falls below this level, it would indicate significant weakness.
Resistance Levels:
₹2,600 - ₹2,650 (Recent Highs / Resistance Zone):

If Reliance has recently struggled to break above ₹2,600 - ₹2,650, this range would act as a strong resistance zone. A breakout above this range could signal bullish continuation.
₹2,700 (Key Resistance Level):

The ₹2,700 level could act as a key resistance point for Reliance. A sustained break above ₹2,700 could lead to a rally toward the next resistance at ₹2,800 or higher.
₹2,800 (Major Resistance):

If ₹2,800 has previously marked the top of the stock's price action, it could be a major resistance level. A move beyond this level would indicate strong bullish momentum and could open up the next target of ₹2,900.
₹3,000 (Psychological Resistance):

As a round number, ₹3,000 is a psychological resistance level. If Reliance moves close to this level, selling pressure could increase from traders looking to lock in profits, making it a significant level to watch.
Key Areas to Watch:
Breakout Above ₹2,650:

A breakout above ₹2,650 would be a bullish signal for Reliance, with the next resistance around ₹2,700 to ₹2,800. Traders would watch for a close above ₹2,650 for confirmation.
Breakdown Below ₹2,400:

A breakdown below ₹2,400 would suggest a weakening of the bullish trend, and the stock could move toward ₹2,300 or ₹2,200.