kartikbhai

RELIANCE - Week next to quarterly results

Long
NSE:RELIANCE   RELIANCE INDS
Previous quarterly results was announced on 30-Oct
  • Revenue decrease 23%
  • Profit after tax decrease 6%
  • Stock price falling preceding 2 weeks
  • Strength reducing preceding 2 weeks
  • Stock fell from 2054 to 1880

Current quarterly results announced on 22-Jan
  • Revenue decrease 20%
  • Profit after tax increase 25%
  • Stock price rising preceding 1 week
  • Strength increased preceding 1 weeks
  • Direction indicator value improved for positive move
  • However momentum's trend is not strong
Indicative price move for next week seem to have higher probability for Rising Price - continued strength
As momentum's trend does not show mass, it may try going back to 2075 after rising to 2100 on Day-1

Aggressive trader : Buy 50% qty at current price, add 50% qty after price rise above 2075.
Conservative trader: Buy 25% qty at current price, add 25% qty after price give pull-back at bottom of last candle,
add 50% after price move above 1st purchase in trade's direction.

EXIT:
Day's close below last week's candle close

Earning efficiency visible from quarterly results . . .

In spite 5-6% revenue reduction in Retail segment, it's EBIDTA increased 50% compared to Sep-2020
Digital services revenue increased 32% compared to Dec-2019, but EBIDTA increased much higher to 48%
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