Reliance Industries’ share price dipped by 0.03% on October 14, 2024, despite the broader Sensex gaining 0.59%. The stock opened at ₹2761.7 and hit a low of ₹2738 before closing at ₹2741.5.
Stock Performance Overview
Reliance Industries’ minor decline in price contrasts with the upward movement seen in the broader market. Here’s the day’s key stock data:
| Date | Opening Price | Highest Price | Lowest Price | Closing Price | % Change |
|---|---|---|---|---|---|
| 14-Oct-2024 | ₹2761.7 | ₹2761.7 | ₹2738 | ₹2741.5 | -0.03% |
Technical Analysis
Reliance Industries is trading below both its short-term and long-term moving averages, signaling weakness in the stock. Below are the SMA values:
| Days | Simple Moving Average (SMA) |
|---|---|
| 5 | ₹2754.27 |
| 10 | ₹2829.64 |
| 20 | ₹2896.14 |
| 50 | ₹2940.25 |
Key resistance levels are at ₹2761.48, ₹2778.47, and ₹2790.38, while support levels lie at ₹2732.58, ₹2720.67, and ₹2703.68.
Volume Trends
The trading volume for Reliance Industries was 152.65% higher than the previous session, suggesting stronger activity. However, the downward price movement despite higher volume may indicate selling pressure or profit-taking.
Conclusion
Reliance Industries’ slight dip amid market gains reflects short-term volatility. With key resistance and support levels in play, investors should closely monitor the stock’s technical indicators to make informed decisions.
Disclaimer
This article provides stock market information for educational purposes only and is not intended as financial advice. Please seek professional guidance before making investment decisions.
