RELIANCE | Rejected From The Flip Zone — Bears Eye The LiquidityReliance Industries LimitedNSE_DLY:RELIANCEBigBeluga By analyzing the 🇮🇳 #RELIANCE (Reliance Industries) chart on the 4H timeframe, we can see that the broader structure remains bearish, and price has rallied back into a critical Flip Zone where I expect sellers to step in. The setup points toward a rejection and a move down to hunt the liquidity below — though a strong earnings reaction is an important cross-current to respect here. 📊 4H Timeframe On the 4H, the structure is bearish. Price printed a CHoCH that broke the prior bullish character, followed by a BOS to the downside, confirming the trend shift — and it has been respecting a clean descending trendline the entire way down. Along the way, price staged a deep corrective rally that swept the liquidity above (the Liquidity Sweep into the Protected High at ₹1,488.8) before rolling back over — a classic trap that refilled the sellers. Price has now rallied back into the Flip Zone (₹1,315.1 – ₹1,370.7) — the former support that now acts as resistance. This is a genuinely important level, and in my view it's where the next bearish reaction is most likely to trigger. Price is trading around ₹1,304. My expectation is a rejection here, resuming the downtrend toward the sell-side liquidity (SSL) below at ₹1,252.7, and on a deeper flush, the major pool at ₹1,116.6. ⏱️ 15m Timeframe On the 15m, the internal picture confirms the setup. Price had been correcting higher inside a rising channel inside the Flip Zone, and it executed a Liquidity Sweep at the highs. My expectation: if price breaks the Demand Zone (₹1,292.1 – ₹1,301.2) to the downside, it likely retests it from below, which would also confirm the break of the rising channel — and from there, the path opens toward the 4H sell-side liquidity. That's the lower-timeframe trigger for the bearish continuation. 🎯 The Bias My base case is bearish. The 4H trend is down and respecting its trendline, price swept the liquidity above and is now rejecting from the Flip Zone, and the 15m structure is set up to break lower. On a break of the 15m Demand Zone (₹1,292.1 – ₹1,301.2) and the rising channel, the draw is toward the SSL at ₹1,252.7, then ₹1,116.6. The bearish idea stays valid as long as price holds below the Flip Zone — a decisive close back above ₹1,370.7 (and ultimately the Protected High at ₹1,488.8) would invalidate it and flip the structure bullish. 📰 Fundamental Backdrop Here's the crucial cross-current to flag honestly: the technical setup is bearish, but the fundamentals just turned sharply positive — so this is a spot for extra caution. On July 17, Reliance reported its best-ever first-quarter results, beating Street estimates with revenue above ₹3.11 lakh crore, and the stock jumped 2.6% to close around ₹1,326, adding roughly ₹46,500 crore in market cap. The strength was led by an improving O2C business and continued momentum at Jio (5G adoption and margin expansion), and analysts have since turned more bullish, with several revisiting buy calls and awaiting updates on the Jio Platforms IPO. The longer-term backdrop, though, explains the heavy chart: RIL has notably underperformed the Sensex over the past year and five years (up only ~25% over five years versus ~47% for the index), weighed down by telecom competition, slower retail growth, and volatile refining margins — which is why the structure remains bearish despite the good print. Net-net: respect the conflict. If the post-earnings enthusiasm carries price back above the Flip Zone, the bearish setup is negated; but if the rally stalls at this resistance — as the chart suggests — the rejection toward the liquidity below remains the higher-probability path. Manage risk around the earnings momentum. This analysis will be updated as the market evolves. If this breakdown added value, drop a like 👍 and a comment 💬 to support the work — and share where you see Reliance heading next! Best Regards, BigBeluga 🐳