RIL! Why Reliance Industries share may prove a money magnet for your investment kitty - Check experts' analysis
RIL counter looks poised to touch Rs 1,450 levels in immediate term and in mid-term perspective, the scrip shows an upside potential for Rs 1,600 levels.
On account of better performance by telecom space, fresh buying by the FIIs in Indian equities and opinion polls suggesting a stable and strong NDA government coming to power post Lok Sabha polls, the market experts are expecting near 20 per cent rise in the Reliance Industries stock in midterms i.e. two to three-month perspective. The Sensex heavyweight is trading around Rs 1,340 per stock levels and its immediate target in short-term is Rs 1450 while in mid-term perspective it is expected to touch Rs 1,600 per stock, say experts.
Giving details of the strong fundamentals of the Reliance Industries counter Kunal Saragoi, CEO at Equity Rush told Zee Business online, "From the fundamental perspective the counter looks positive and poised to touch Rs 1,450 per stock levels in immediate term and in mid-term perspective, the scrip shows an upside potential for Rs 1,600 per stock levels." Asked about the fundamentals that is supporting this bull run into this Dalal Street heavyweight counter Kunal Saragoi of Equity Rush said, "FIIs are buying into the Indian stocks and Reliance Industries being the driver of the Indian indices is one of the favourite stocks among the FIIs. Apart from this, the telecom space is doing well and hence the RIL counter is expected to get the benefit of this."
See Zee Business video below:
सरकार की योजनाओं का कितना होगा #RepcoHome को फायदा? चुनाव का कारोबार पर कितना पड़ेगा असर जानने के लिए देखिए कंपनी के MD & CEO यशपाल गुप्ता की पूजा त्रिपाठी से खास बातचीत ।@poojat_0211 pic.twitter.com/yY5V8WFeJW
— Zee Business (@ZeeBusiness) March 18, 2019
Saragoi also said that the majority of the opinion polls post-surgical strikes have been indicating about strong and stable NDA government at the center, which has also fuelled the FIIs faith into the Indian equity markets. "Due to the fresh buying initiated by the FIIs, the RIL counter has broken its all-time high and resistance at Rs 1,300 per counter levels.
On outlook of the Reliance Industries scrip from technical perspective Simi Bhaumik, a SEBI registered technical equity analyst said, "Technically the Reliance Industries counter seems positive and is poised to reach Rs 1,380 to Rs 1,400 per stock levels in immediate term and once this level is broken the counter would soon show the Rs 1,440 to Rs 1,450 per share levels. However, I won't suggest market investors buy at current levels, which is around Rs 1,340 per scrip. The investors should wait for some profit booking in the stock and take buy position into the Reliance Industries stocks at Rs 1,325 per stock levels maintaining stop loss below Rs 1,300 per stock levels."
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.