Stock of Interest

Posted On: August 29, 2023

Stock Report: RELIANCE(NSE) 28 Aug 2023 

Reliance Industries Ltd is engaged in hydrocarbon exploration and production, refining and marketing, petrochemicals, financial services, retail, and communications. The Group has five principal operating and reporting segments: Oil To Chemicals (O2C), Oil and Gas, Retail, Digital Services and Financial Services. Located in west India, Reliance’s refineries produce a range of petroleum products that find use as fuel variants, feedstock, and fuel for power and cement plants. Fuels produced in refineries are exported to several countries and can be processed into any grade of gasoline or diesel. The Oil to Chemicals segment that derives the majority revenue includes Refining, Petrochemicals, fuel retailing through Reliance BP Mobility Limited, aviation fuel, and bulk wholesale marketing.

#xCalData predicts that # RELIANCE will continue its bearish phase over the next five days and trend within the range of 2369 to 2487. 

In comparison to the previous month, the price of the stock has experienced a decline of 3.26% indicating a bearish.

The Stock has doubled twice since 30 Mar 2015 and took an average of 2.6 years to double.

The stock has shown seasonality trend in the past. 

Reviewing the returns for the past 5 years for the same week, we see the stock has given negative returns in 4 years in the past.

Majority of the technical ratios trend towards Bearish side of the spectrum. 

Collectively, xCalData suggests the stock would be in Bearish zone for next 5 days.

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