Fri Oct 11 09:04:22 UTC 2024: ## Reliance Industries Shares Up Despite Downtrend, Trading at ₹2753.55

**MUMBAI, INDIA** – Reliance Industries shares closed the day up 0.42% at ₹2753.55, despite technical indicators suggesting a strong downtrend. The stock hit a high of ₹2767.05 and a low of ₹2738 during the trading day. This positive performance comes even as the Sensex fell -0.25%, trading at ₹81410.89.

While the stock is currently trading below short and long-term moving averages, analysts note that the volume traded on the NSE and BSE was 43.75% higher than the previous trading session. This higher volume, despite a downtrend, could indicate a possible change in momentum.

From a fundamental perspective, Reliance Industries boasts a ROE of 9.23% and a P/E of 26.99. The company has a 0.00% promoter holding, 8.37% MF holding, and 21.59% FII holding, as per filings in the June quarter. Interestingly, both MF and FII holdings have decreased slightly from the March quarter.

Despite the positive performance, the stock is facing resistance at ₹2762.92, ₹2784.03, and ₹2796.07, while key support levels lie at ₹2729.77, ₹2717.73, and ₹2696.62.

While Reliance Industries shares are experiencing an uptick today, the stock’s overall downtrend and decreasing MF and FII holdings warrant close monitoring.

**Investors should consult with financial professionals before making any investment decisions.**

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