Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Reliance Industries Limited (RIL) – Technical Analysis

41 sec read

RIL FY08 cons net profit up 62% at Rs 19523 cr
 
 Reliance Industries has announced its FY08 results. The company's FY08 consolidated net profit was up 62% at Rs 19523 crore versus Rs 12075 crore.

Its Q4 stanalone net profit up 24% at Rs 3912 crore versus 3156 crore.

Its standalone net sales up 36% at Rs 37,286 crore versus Rs 27,448 crore.

Reliance FY08

Its standalone net sales up 19.5% at Rs 1.33 Lakh crore versus Rs 1.11 Lakh crore
Its standalone net profit up 63% at Rs 19,458 crore versus Rs 11,943 crore
Its standalone net profit includes exceptional income of Rs 4733 crore from RPL stake sale
 
 
Simple Technical Analysis
 
Those who are holding Reliance. CMP 2640. Support at 2620. And Resistance at 3300.
Means if reliance holds above 2620 sure target of 3300.
 


 

6 Months Chart

But Currently RSI indiacators are showing that this stock is  liitle bit oversold. Technicals are showing slightly selling pressure. So a maximum downside of 2450 may be seen. Till then accumulate for target Rs3300.
 
If it is not breaking 2620 then 3300 is sure in near term. So make a Stop loss at 2576 and then
go for short term.
 
Regards,
Rajandran R
 
 
Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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