RIL shares slip 3% despite Jio IPO timeline, JioPC launch; what charts signal next

Shares of Reliance Industries Ltd (RIL) dropped 2.69 per cent in Friday's trade, hitting a low of Rs 1,350.30, even as the conglomerate unveiled key announcements at its 48th Annual General Meeting (AGM).

Chairman Mukesh Ambani said preparations are underway to file for the initial public offering (IPO) of Jio, with the target set for the first half of FY26. Among new product launches, the company introduced JioPC, a cloud-powered virtual computer that can transform any TV or screen into an AI-ready personal computer. By simply connecting a keyboard to the Jio Set-Top Box, users can instantly access a full computer experience without an upfront investment.

Backed by Jio's cloud infrastructure, JioPC offers always up-to-date, secure access, along with the flexibility to remotely upgrade storage, memory and computing power as per user needs.

From a technical standpoint, a few analysts said Reliance faces strong support at Rs 1,325-1,330, with upside potential only above Rs 1,400-1,435. The stock has been consolidating for over a month and will likely stay range-bound until a breakout decides the next trend.

Osho Krishan, Senior Analyst - Technical & Derivative Research at Angel One, noted that Reliance is currently trading below its short- and medium-term exponential moving averages (EMAs). He highlighted strong support in the Rs 1,330–1,325 range, calling it a key level. On the upside, he said a clear move above Rs 1,400-1,420 would be necessary to negate the prevailing weakness and reinstate the primary uptrend.

Meanwhile, Kunal Kamble, Senior Technical Research Analyst at Bonanza, pointed out that Reliance has been consolidating within a narrow band for the past 38 sessions, after a correction of nearly 12 per cent. According to him, a breakout beyond the Rs 1,435-1,360 range will be crucial for the next directional move. Until then, the stock is expected to remain in consolidation.