Reliance shares edged higher for four days straight, showing a steady increase in stock purchases. The price increased by around 2% on Tuesday and touched Rs. 1,333 on the BSE. The stock has gained nearly 6% in the last four trading sessions.
The rise came along with a strong stock market rally. Positive global updates, especially in the oil market, helped improve overall sentiment. Energy stocks, including Reliance Industries stock, saw fresh interest from investors during this period.
Even after this recent gain, the stock has not yet performed well in 2026. Reliance’s share price has dropped more than 15% since January. In comparison, the Nifty 50 dipped close to 8%. This shows the stock has lagged behind the broader market this year.
Many analysts believe the fall has made the stock cheaper. Valuations look better compared to previous levels. The price-to-earnings ratio has come down, and other key measures also show the stock near lower levels.
Reliance Industries has also changed its business focus over time. Telecom and retail now play a bigger role in its overall value. The oil-to-chemicals business, which was once the main driver, now has a smaller share. This shift shows the company is focusing more on new growth areas.
Experts expect stable growth in the coming years. Telecom and retail businesses may lead earnings growth, while the oil business may slowly improve. This outlook maintains long-term confidence in the stock.
Brokerage firms have given strong target prices for the stock. Estimates range from Rs. 1,586 to Rs. 1,803, which shows possible upside from current levels. These targets suggest that the stock may offer value if growth continues as expected.
At the same time, short-term signals are still weak. Reliance's share price is trading below its 50-day and 200-day moving averages. These levels usually show trend strength, and staying below them signals caution.
Resistance lies near Rs. 1,350, while support is around Rs. 1,250. A strong move above resistance can confirm a better trend, while a drop below support can result in increased selling pressure.
Also Read: Infosys Share Price Down 35% to Rs. 1,124: Why Analysts Still See Upside