Reliance Industries Limited (RIL) is an Indian conglomerate holding company headquartered in Mumbai, Maharashtra. It owns businesses across India engaged in energy, petrochemicals, textiles, natural resources, retail and telecommunications. RIL is the most profitable company in India and the second largest by revenue. It contributes approximately 20% of India's total exports. The document provides a technical analysis of RIL stock, recommending it as a buy based on the stock breaking resistance levels and momentum indicators still being below overbought levels, with upside potential to 1260.

1. RELIANCE INDUSTRIES LTD.
• Reliance Industries Limited (RIL) is an Indian conglomerate holding company headquartered in Mumbai,
Maharashtra, India. Reliance owns businesses across India engaged in energy, petrochemicals, textiles,
natural resources, retail and telecommunications. Reliance is the most profitable company in India, the
second-largest publicly traded company in India by market capitalization and the second largest
company in India as measured by revenue after the government-controlled Indian Oil Corporation. The
company is ranked 114th on the Fortune Global 500 list of the world's biggest corporations, as of 2014.
RIL contributes approximately 20% of India's total exports.
• It has received domestic credit ratings of AAA from CRISIL (S&P subsidiary) and Fitch. Moody’s and S&P
have provided investment grade ratings for international debt of the Company, as Baa2 positive outlook
(local currency issuer rating) and BBB+ outlook respectively.
• On 31 March 2013, the company had 123 subsidiary companies and 10 associate companies. As on 31
March 2013, the company had 23,519 employees of which 1,159 were women and 83 were employees
with disabilities. It also had 29,462 temporary employees on the same date. As per its Sustainability
Report for 2011–12, the attrition rate was 7.57%.
 Technical Outlook
• Despite of turbulent time in market where Nifty is forming new lows. In this scenario, Reliance Industries
turns up in 360 degree. After condense consolidation phase where it tested a patience and adverse
market situation, it has come out from range with flying color.
• From technical dimension, on Weekly chart it has posted higher low and higher high after a long time.
Secondly, it has broken its earlier resistance level of 1040 level. Alphabetically, it has formed “W”
pattern which is bullish in nature.
• Furthermore, recent breakout is accompanied with rising volume. Upside breakout with rising volume is
ideal combination for further upside. A Momentum oscillator RSI has moved higher from consolidation
phase. Despite of the strong move it is still shy away from being overbought in nature. As there is gap
between RSI current reading 66 and overbought zone 70, It has further room for more higher side. It
indicates stock is still not in overbought territory.
• Based on above technical reasoning and observation, one could create long position in Reliance
Industries for further upside up to 1260 in coming spell.
Company RELIANCE
Recommendation Buy
Sector : Integrated Oil & Gas
CMP : 1073 & Upto 1045
Price Potential : 1260
Stop Loss (Closing Basis): 980
Mkt Cap (Rs. Cr.): 3,47,636
TTM EPS (Rs.) 74.73
TTM Sales (Rs. Cr.) 2,62,873
BVPS (Rs.) 707.59
Reserves (Rs. Cr.) 2,25,976
P/BV 1.52
PE 14.36
Bloomberg Code : RIL:IN
Reuters Code : RELI.NS
TW = Twelve Months
TTM= Trailing 12 months
SEBI Registered – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Pick of the Week: RELIANCE INDUSTRIES LTD.
16th Jan, 2016
www.choiceindia.com *Please Refer Disclaimer on Website

2. Pick of the Week: RELIANCE INDUSTRIES LTD.
16th Jan, 2016
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual FundsSEBI Registered – Research Analyst Equities I Commodities I Currencies I Mutual Funds
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Date: 2016.01.16 15:29:40 +05'30'