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
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