Outlook for Reliance industry Ltd Share By Mr. Yash Gupta, Angel Broking Ltd
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Below are Quote on Outlook for Reliance industry Ltd Share by Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd
We have seen a major consolidation in Reliance industry in the last 3 months and stock under perform in Nifty, In the last 3 months Nifty has rallied 900 Points while Reliance has corrected by 2% despite Reliance Industry being the highest weightage stock in Nifty.
Commodity price in the International market is in upward momentum, same as with petrochemical products prices also, almost all petrochemical products at yearly high by this company realization will improve along with EBITDA margins for the next couple of quarters. As per the market news to disinvestment BPCL government may give some relaxation in FDI rules & regulation to sell 52% holding of government of India in BPCL Limited, any positive news will be positive for Reliance Industry also.
We expect the stock to be in upward momentum and may touch the levels of 2200 - 2250 in the coming week.
Above views are of the author and not of the website kindly read disclaimer
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
