RELIANCE Weekly Bullish Flag Breakout | Multiple Targets to 1758Reliance Industries LimitedNSE:RELIANCEraigvivekRELIANCE Weekly Bullish Flag Breakout | Multiple Targets to 1,758.40 | Weekly Analysis ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 📊 TECHNICAL SETUP Current Price: 1,586.70 (+0.70% | +11.00) Timeframe: Weekly (1W) Symbol: RELIANCE (Reliance Industries Limited) Exchange: NSE Category: Stock / Energy Sector ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 🎯 PATTERN ANALYSIS RELIANCE demonstrates a STRONG WEEKLY BULLISH FLAG BREAKOUT pattern: ✅ Flag Structure: Clear flagpole followed by tight consolidation ✅ Breakout Confirmation: Price decisively breaking above upper flag boundary on weekly close ✅ Support Levels: Multiple support zones identified with strong holding ✅ Volume Profile: Healthy accumulation visible in weekly volume patterns ✅ Momentum: Sustained bullish momentum with consistent weekly closures above key levels The stock shows textbook uptrend characteristics with proper support/resistance relationships, confirming the bullish structural bias. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 📈 PRICE TARGETS (Progressive Levels) 1st Target: 1,609.80 (+1.5% from current) 2nd Target: 1,639.60 (+3.3% from current) 3rd Target: 1,669.40 (+5.2% from current) 4th Target: 1,699.20 (+7.1% from current) 5th Target: 1,729.00 (+9.0% from current) 6th Target: 1,758.40 (+10.8% from current) These progressive targets represent key resistance zones and profit-taking levels along the uptrend path. Each level provides strategic exit points for partial position management. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 🛡️ RISK MANAGEMENT Entry Zone: 1,580.00 (Breakout confirmation point - wait for weekly close above 1,585) Stoploss: 1,520.00 (Weekly support - critical level) Risk/Reward Ratio: - Risk (1,580 to 1,520) = 60 points - Reward (1,580 to 1,758) = 178 points - R:R Ratio = 1:2.97 (Excellent) Position Sizing: Risk only 1-2% of capital per trade Stoploss is placed BELOW major weekly support level. Consider scaling in on dips toward intermediate support. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 📍 KEY SUPPORT & RESISTANCE Immediate Support: 1,580.00 (Recent breakout level) Secondary Support: 1,520.00 (Stoploss / Major support) Resistance 1: 1,609.80 (1st Target) Resistance 2: 1,699.20 (Mid-term resistance) Major Resistance: 1,758.40 (6th Target / Final Target) Intermediate Levels: Multiple targets provide stepping stones for profit realization at each resistance zone. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 🔍 FUNDAMENTAL CATALYST RELIANCE benefits from strong macro and sector tailwinds: ✅ Energy sector showing strength on geopolitical factors ✅ Oil price trajectory supporting energy stocks ✅ Refining margins remain healthy and supportive ✅ Strong cash flow generation and dividend support ✅ Large-cap stability with continued dividend yield support This macro backdrop combined with strong technical structure reinforces bullish conviction for trend continuation. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 🎉 TECHNICAL OBSERVATIONS • Weekly uptrend remains intact with clear higher highs and higher lows • Flag breakout on volume confirms institutional participation • Stock consolidating at higher levels - sign of strength • Volume profile shows healthy accumulation pattern • Multiple targets suggest strong resistance zones ahead • Proper risk/reward of 1:2.97 offers excellent entry/exit structure • Support at 1,520 provides good risk management anchor • Stock positions itself well for continued upside exploration ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 💡 TRADING STRATEGY NOTES ✓ Wait for weekly close above 1,585 before committing to positions ✓ Consider scaling entries - don't go all-in at once ✓ Trail stoploss after each target level is achieved ✓ Take partial profits at each resistance level ✓ Preserve capital: Use strict position sizing ✓ Monitor weekly closes carefully ✓ Watch for gaps and opening levels ✓ RELIANCE is a defensive large-cap with strong dividend yield ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ ⚠️ CRITICAL DISCLAIMER 🔴 THIS IS TECHNICAL ANALYSIS FOR EDUCATIONAL PURPOSES ONLY 🔴 THIS IS NOT FINANCIAL ADVICE OR AN INVESTMENT RECOMMENDATION This analysis: - Is based on historical price patterns and technical indicators - Does NOT constitute investment advice or a buy/sell recommendation - Is my personal observation and technical analysis - Should NOT be the sole basis for any investment decision - Stock performance depends on multiple macroeconomic factors ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ ⚠️ IMPORTANT RISKS TO UNDERSTAND ✓ Past performance does NOT guarantee future results ✓ Technical patterns can FAIL and trends can reverse ✓ Market conditions can change rapidly without warning ✓ This analysis is based on historical data only ✓ Stock investments carry significant risk of loss ✓ You may lose your ENTIRE investment amount ✓ This is a technical observation, NOT a guaranteed strategy ✓ Consult a qualified financial advisor before trading ✓ Do your own independent research (DYOR) ✓ Use strict position sizing and risk management ✓ Oil price volatility can significantly impact RELIANCE ✓ Geopolitical events affect energy sector performance ✓ Market liquidity and volatility can impact execution ✓ Economic indicators and earnings can invalidate patterns ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 🔴 FINAL RISK ACKNOWLEDGMENT TRADING AND INVESTING IN STOCKS INVOLVES SUBSTANTIAL RISK OF LOSS. I am NOT a financial advisor, fund manager, or investment professional. This analysis is provided for educational purposes only. BEFORE MAKING ANY INVESTMENT DECISION: ✓ Conduct your own thorough research ✓ Understand macroeconomic factors affecting energy sector ✓ Check oil price trends and geopolitical developments ✓ Verify your risk appetite and capital availability ✓ Consult with a qualified financial advisor ✓ Only invest capital you can afford to lose ✓ Never follow this as a guaranteed strategy ✓ Understand leverage implications if using derivatives Your investment decisions are YOUR responsibility. Use proper risk management, stop losses, and position sizing. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Trade responsibly. Risk management is paramount.