Reliance Industries eyes higher levels after earnings rally
after close1 source ↓machine-written, see hownot a recommendation
- NIFTY close
- ₹23,053
- On the day
- +0.51%
- 52-week high
- ₹23,489
- 52-week low
- ₹22,180
Reliance Industries could see further gains after an earnings-led move helped the stock break out of its recent downward trend, according to Rahul Sharma, Director and Head of Technical and Derivatives at JM Financial Services. He identified support around ₹1,150 and placed the next key level in the ₹1,300–1,325 range. The view also covered Jio Financial Services, which Sharma said showed signs of a technical reversal. 📈
The latest OI Charts data presents a more mixed picture. Reliance Industries closed at ₹1,165 on 30 Oct 2026, down 0.2% on the day, while its five-session and 20-session returns stood at -3.6% and -2.7%, respectively. The stock traded within a 52-week range of ₹1,152 to ₹1,612, leaving it close to the lower end of that range. Its volume was 14,753,650 shares on the session, while the futures open interest rose 1.8% in a short build-up. Futures short build-up indicates that derivatives positioning did not yet confirm the bullish technical view.
Options positioning also points to important levels ahead. OI Charts data showed a put-call ratio of 0.66 for the 23 Nov 2026 expiry, with maximum pain at ₹1,200. The largest call open interest was at ₹1,200, creating an overhead positioning area, while the largest put open interest was at ₹1,100, marking the key downside strike in the chain. The futures contract traded at a 0.50% premium to the underlying. ⚡
For the broader energy and financial-services segments, the key issue is whether the post-results interest can persist beyond the initial earnings reaction. The stock’s recent weakness, combined with increased futures open interest, makes follow-through volume important for validating the reversal described by Sharma. Traders will be watching the ₹1,200 maximum-pain and call-open-interest zone first, followed by the ₹1,100 put-interest level and the ₹1,300–1,325 technical target area. Any change in futures positioning and options open interest around these strikes will help determine whether momentum is strengthening or fading.
Source: CNBC TV18, 02 Nov 2026
Not investment advice. For informational purposes only.