Best buying Opprtunity in Reliance stock Reliance Industries Announces ₹20,000 Crore Green Energy Joint Venture
Reliance Industries Limited (RIL) has partnered with a leading European firm to invest ₹20,000 crore in India’s renewable energy sector.
The joint venture aims to accelerate the development of solar power, wind energy, and green hydrogen production.
As part of this collaboration, advanced gigafactories will be established to manufacture solar photovoltaic (PV) modules, wind turbines, and electrolyzers, promoting indigenous production under the ‘Make in India’ initiative.
The project is expected to generate thousands of direct and indirect employment opportunities, particularly for engineers, technicians, and skilled professionals.
This strategic partnership will contribute significantly to reducing carbon emissions, aligning with India’s Net Zero Emission targets.
Additionally, the venture will enhance India’s position in the global renewable energy market by integrating next-generation energy solutions, smart grid technology, and AI-driven energy management systems.
Support Levels:
Current Support Zone: ₹1,205 - ₹1,214
Extended Support Level: ₹1,150
Major Support Zone: ₹999 - ₹1,019
Resistance Levels:
Immediate Resistance Zone: ₹1,298 - ₹1,316
First Short-term Target: ₹1,450
Second Short-term Target: ₹1,650
Major Resistance Zone: ₹1,578 - ₹1,611 (near all-time high)
The stock is currently testing the support zone of ₹1,205 - ₹1,214, and if this level breaks, the next downside level to watch is ₹1,150. On the upside, the ₹1,298 - ₹1,316 zone acts as resistance, with potential for further movement towards ₹1,450 and ₹1,650 if strength builds.
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