Reliance Industries share are down by -1.85%, Nifty down by -0.96%

At 06 Sep 11:02 today, Reliance Industries shares are trading at price ₹2932, -1.85% down from the previous closing price. Sensex is trading at ₹81389.59, down by -0.99%. The stock has hit a high of ₹2996.2 and a low of ₹2925.95 during the day.

On the technical front, the stock is trading above the 300 days SMA & lower than the 5,10,20,50,100 day SMA. The stock will have support at 300 days SMA & face resistance at 5,10,20,50,100 days SMA.

The SMA values for the stock are given below :

The classic pivot level analysis shows that on a daily time frame, the stock has key resistances at ₹3038.17, ₹3083.58, & ₹3115.62, whereas it has key support levels at ₹2960.72, ₹2928.68, & ₹2883.27.

Till 11 AM today, the volume traded on NSE & BSE for Reliance Industries was 356.27% higher than the previous trading session. Volume traded is an important indicator along with price to study trends. Positive price movement with higher volume suggests a sustainable upmove, and negative price movement with higher volume might be an indication of further decline in prices.

Overall, as per Mint technical analysis, The stock's continued downtrend suggests a bearish trend is underway.

From a fundamental analysis perspective, the company has a ROE of 9.23% .The current P/E of the stock is at 29.39 .

The median 1-year forecasted upside in this share is at 12.14% with a target price of ₹3287.86666667.

The company has a 50.33% promoter holding, 8.37% MF holding, & 21.59% FII holding as per filings in the june quarter.

The MF holding has decreased from 8.47% in march to 8.37% in june.

The FII holding has decreased from 21.90% in march to 21.59% in june quarter.

Reliance Industries share price down -1.85% today to trade at ₹2932 while its peers are mixed. Its peers such as Oil & Natural Gas Corporation, Oil India, Hindustan Petroleum Corporation, Petronet LNG are falling today, but its peers are on the rise. Overall, benchmark indices Nifty & Sensex are down -0.96% & -0.99% each respectively.