Reliance Jio IPO: What will be its impact on Reliance Industries? Analysts decode

Reliance Jio IPO effect: Shares of Reliance Industries, India's largest conglomerate by market capitalisation, will take cues from the much awaited Reliance Jio IPO. Jio is set to file for the public issue of shares before the company's 49th AGM slated for June 19. RIL shares, which are down 15.39% this year, will be among the most tracked stocks in the next few days  due to the upcoming AGM and the Reliance Jio IPO.

As per estimates, Jio IPO is likely to be India's biggest public offer to date at a valuation in the range of $130 billion to $180 billion.

In the current session, RIL shares were trading on a flat note at Rs 1333. Market cap of the firm stood at Rs 18.03 lakh crore. 
The stock has gained nearly 6% in four days amid the IPO buzz and expectations from the AGM.

Sachin Gupta, VP – Technical Research at Choice Equity Broking said the stock is in a bullish momentum.

"The stock is showing signs of a bullish accumulation phase after correcting from its January 2026 high of Rs 1,611.80. The stock has formed a strong base near the Rs 1,250– Rs 1,260 support zone and recently witnessed a sharp rebound, indicating renewed buying interest from lower levels. Technically, the stock has moved above its Middle Bollinger Band, signaling improving momentum and a potential shift in trend. The recovery is supported by healthy volume participation, reflecting strong buying conviction. Additionally, the stock is attempting to move out of its medium-term falling channel, while the Ichimoku setup on monthly chart also suggests strengthening bullish momentum. A sustained move above Rs 1,340 could confirm the trend reversal and open the door for an upside rally towards Rs 1,370 - Rs 1,400. On the downside, the Rs 1,250– Rs 1,260 zone remains a crucial support area," said Gupta.

The stock trades near its 52-week low of Rs 1253.65 reached on June 11, 2026. It has an average volatility in a year with a beta of 0.95.

In terms of technicals, the stock trades above its 5 day, 10 day, 20 day but lower than the 30 day, 50 day, 100 day, 150 day and 200 day moving averages. The large cap stock has a RSI of 51.5 indicating the stock is neither overbought nor oversold on charts.  

Jigar S Patel from Anand Rathi said, "Support is placed at Rs 1300, while resistance stands at Rs 1360. A decisive breakout above Rs 1360 could open the door for further upside towards Rs 1400. For the short term, the stock is expected to trade within the Rs 1300- Rs 1400 range."

Brokerage Morgan Stanley has maintained an Overweight stance on the stock with a target of Rs 1,803 on the stock, indicating nearly 35% upside from current levels.

Shitij Gandhi, AVP - Equity Technical Research, SMC Global Securities said, "Reliance appears to be forming a double-bottom reversal pattern near the Rs 1,240 zone, a level that has repeatedly attracted buying interest. The stock continues to trade below the key resistance zone of 1,360–1,480, which remains a crucial hurdle for a larger trend reversal. A sustained move above Rs 1,360 could strengthen the bullish case and pave the way for a retest of higher resistance levels. Until then, the broader structure remains one of recovery within a larger consolidation range, with the Rs 1,240 support zone acting as a critical line of defence for the bulls."