RIL Q4 results to push rally in Reliance Industries shares at share market, say stock market experts
On strong fourth quarter results of the Reliance Industries the RIL shares may show upside swing and touch the levels of Rs 1,440/stock in a week, say experts.
Reliance Industries strong fourth quarter results with 13.1 per cent rise in annual consolidate net profit, 26.8 per cent rise in annual PBDIT and revenue of retail business crossing Rs 1 lakh crore, the stok market experts are expecting furthr rally in the RIL counter next week. In fact, the Sensex heavyweight counter is expected to show Rs 1,440/stock levels in a week time, say experts.
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Speaking on the RIL Q4 results pushing the bull run in Reliance Industries counter Chandan Taparia, Derivative & Technical Analyst at Motilal Oswal said, "The fourth quarter results of the Reliance Industries are positive for the RIL counter and it may show Rs 1,440/stock levels in a week's time." On what should be the level for an investor to buy the RIL counter Chandan Taparia of Motilal Oswal said, "An investor can buy the scrip at current lavels taking stop loss below Rs 1,340."
Source: Reliance Industries
However, Prakash Pandey, Head of Research at Fairwealth Securities said, "The RIL counter is trading the range of Rs 1,300 to Rs 1,420. Once the above level is breached, the Reliance Industries shares may show around Rs 1,480 to Rs 1,500 per stock levels but not before a correction. So, I would advise people to book partial profit when the RIL scrip touches the 1420 levels.