AkshayKudchi
Long

Reliance Industries Share Analysis

NSE:RELIANCE   RELIANCE INDS
Hello Everyone,

RIL's results are out, and I'd suggest to compare it with YoY performance rather than QoQ. Jio results are beyond expectations and deal with FB is a booster. RIL holds the capacity to outbreak Nifty beyond 10000 for sure. If we consider the positive trend in RIL, I'm expecting it to hit 1640 target in the coming days.

Here's how I analyze it.

RIL to hit the trendline below at 1446 price and post which it'll continue to give a uptrend and break 1500 target
In case it breaks down below the trend line of 1446, then go for short selling to the targets of 1420 and 1390

That said, considering the results and the way RIL is leading, I'm on a strong positive buy side. Hope this helps! Do let me know, if you want me to add anymore view or pointers, if I've missed any.

Thanks,
Akshay
Trade closed: target reached: HOLD RIL FOR 1600 TARGET..MY PREVIOUS TARGET IS ACHIEVED

Comments

You will see big drop on monday.

1) Rights issue revealed already -->> share dilution of 6.6% ( 1:15 ratio , free share being given at 1257)

2) quaterly profit took 40% hit, which is big drop. Profits down BY 4000 CRORE

3) PROFITS WILL FALL FURTHER
Also, remember, only 9 days of lockdown in last quater (lockdown started march 22) did this to them.
This quarter FULL APRIL was locked down. Quarter 1 will hit their petrochemical biz HARD as Lockdown isnt ending anytime soon.

Reliance gonna be SUPER BEARISH
+4 Reply
AkshayKudchi chandwaney
@chandwaney, Thank you mate for sharing your opinion, let's see what happens tomorrow. Whatever move the chart takes, hope it benefits our traders :)
Reply
chandwaney AkshayKudchi
@AkshayKudchi, Yes mate just my opinion :)
Reply
AkshayKudchi chandwaney
@chandwaney, happy to tell you bro, my analysed target is hit. If you look at my ideas, my target for Indigo is also about to achieve.
Reply
aniswni AkshayKudchi
@AkshayKudchi, good one bro. Your prediction was to the point. Well done!

I still feel it's highly overvalued since their petrochemical biz is not selling anything since April and entire May will be lockdown so their revenues will be hugely hit. Share price being near ATH when qoq profit down by 39% seems like a manipulation. Jio is a hit agreed but their core biz is still petrochemical in terms of revenues.

Even tho i feel its hugely overvalued but now I'm sure Mr. Ambani won't let the price fall below 1250 till At least their rights issue fund raising is done.

I'll check out your indigo chart soon
Reply
@aniswni, thank you bro! I do understand petrochemical isn't perfoming much, but their Aramco deal with Saudi is on track and that should do the magic. Additionally, now the sentiments are on Jio, wherein big shots are investing in it. So focus on petrochemical will never be from now onwards.

I agree the share will come down a bit, but it won't go below 1365/-. Also, to make rights issue successful, I believe share will play from 1500 to 1650 price.

That said, ICICI, HUL will be a buy tomorrow at any dip price. Happy trading and profit making session.
Reply
aniswni aniswni
@aniswni, keep an eye on sbin too. It's approaching major support which is near 150. I feel if it reach 150-155 it will bounc3 sharply. What do u think
Reply
remember this is exceptional loss because of crude oil drop as they store lot of crude oil in barrel which will purchased for high price and stored and more over due to covid no demand for petrol was also a hit ...this is only a exceptional loss

tat was a good result

2) quaterly profit took 40% hit, which is big drop. Profits down BY 4000 CRORE
+1 Reply
@chaitu66, Thank you mate for sharing your opinion, let's see what happens tomorrow. Whatever move the chart takes, hope it benefits our traders :)
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out