Reliance Industries share are down by -0.11%, Nifty up by 0.34%

At 12 Sep 11:02 today, Reliance Industries shares are trading at price ₹2900, -0.11% down from the previous closing price. Sensex is trading at ₹81745.84, up by 0.27%. The stock has hit a high of ₹2918.75 and a low of ₹2896 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 ₹2930.27, ₹2955.08, & ₹2972.67, whereas it has key support levels at ₹2887.87, ₹2870.28, & ₹2845.47.

Till 11 AM today, the volume traded on NSE & BSE for Reliance Industries was 133.61% 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 28.57 .

The median 1-year forecasted upside in this share is at 13.43% with a target price of ₹3289.53333333.

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 the june quarter.

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

Reliance Industries share price down -0.11% today to trade at ₹2900 while its peers are mixed. Its peers such as Oil India are falling today, but its peers Oil & Natural Gas Corporation, Hindustan Petroleum Corporation, Petronet LNG are on the rise. Overall, benchmark indices Nifty & Sensex are up 0.34% & 0.27% each respectively.