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Ashish Ghosh is a NCFM certified research analyst for the global and Indian financial markets. With more than 15 years of experience in the capital market, Ashish has been published in high-profile online media regularly. He holds a B.Sc. in Math along with NCFM certification for Technical and Fundamental analysis. Presently, he is working with iForex as a financial analyst/content writer since 2017, analyzing mainly the global and Indian markets. You can reach him for professional levels trading ideas or signals through Gmail/telegram ID: ashishghoshjpg/asisjpg

Monday, 19 January 2015

Technical Outlook Of Reliance Industries








RIL (CMP: 870) is a clear under performer over the last couple of years because of various reasons like:

  • Recent crash of Crude Price
  • Oil & Gas is a politically sensitive item in our country & numerous litigation is going on with the RIL  regarding gas pricing and all etc.
 But the situation may change over the next few years. With this, coupled with complete deregulation of oil (RIL again started its retail pumps networks) & foray into 4G network venture, one can expect its full year EPS from INR 68 level to at least INR 80 by FY-2015-16. Its enjoying a poor P/E of around 13 against an industry average of around 18. By this simple assumption, one could expect a price of around INR 1600 (80*20) by next Jan'2016 (taking forward P/E as 20).

Technically, RIL should sustain above 875 for 902-925 zone & 1016 (for short term) & medium term tgt of 1150.

 Sustain above 1150, may invite 1650 zone in the next one year.

 On the down side, 830-825 is a strong support zone followed by 805-793 area. (Low Probability)

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