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TRADE IDEA ON RELIANCE FUTURE FOR 17 JAN 19
BUY RELIANCE FUTURE ABOVE 1135 TGT 1147/ 1160 SL 1122
SELL RELIANCE FUTURE BELOW1120 TGT 1108/1095 SL 1133
We are expecting broadly good result of Reliance industries . The Reliance industries will announce its Q3 results on Jan 17, 2019. After showing
correction from the 200 EMA on daily chart, Overall profit of the company is
expected to see a marginal year-on-year growth with higher petrochemicals
earnings. Reliance industries will announce its results for the December
2018 ended quarter on Thursday. With most digital business announcements now
officially made, analysts add there may not be much to look for in the
management guidance by Reliance industries. The analysts estimated a consolidated revenue
of Rs 1.4 trillion for the quarter under review and a net profit of Rs 9,609
crore. In the same quarter a year back, The Reliance industries reported a
net profit of Rs 9,423 crore and revenue of Rs 1.09 trillion. “We expect
weakness in refining margins to continue, leading to a sequentially flat
profit for the company .Reliance telecom business is expected to witness a revenue upswing
following a huge subscriber addition during the quarter, both because of the
feature phone offer as well as exodus of subscribers from rivals. now stock is trading in short term recovery
phase, it is moving average in the past week with the crossing of the
support level of 1090 as the stock is managing to sustain below the level of
1135. One may get the targets of 1147,1160 in the stock with the stop loss of 1122. RELIANCE is currently trading at Rs 1140, Up by Rs 4 or 0.47% from its previous closing of
Rs 1136 on the NSE.