RELIANCE CMP 1448. ENTRY PRICE 1425. TARGET 1453.5, SL 1419.

RELIANCE CMP 1448. ENTRY PRICE 1425. TARGET 1453.5, SL 1419.

Technically, the stock is in an up-move with an inverted hammer plotted on the chart today. Entering around 1425 with a strict intraday Sl below Rs.1419, can lead to a lucrative trade with a potential target price of Rs. 1453.5.

OPEC decided to gradually increase production, a move seen as favourable for India's refiners as it improves their gross marketing margins on retail fuel. It fueled Indian oil marketing companies including most valuable company listed on India bourses, Reliance Industries Ltd.

The US Energy Information Administration sees oil prices falling in the near term due to a rise in global inventories. The organisation sees Brent crude oil falling to $61 per barrel by end of 2025 from $64 per barrel in May, and averaging $59 per barrel in 2026.

Oil prices softened on June 11 as investors assessed the impact of US-China trade talks, which were held in London, and are yet to be reviewed by US President Donald Trump. Weak demand from China and lower OPEC+ production continued to weigh on the oil prices.

Brent Crude futures dropped 0.3 percent to trade at $66.680 per barrel, while US West Texas Intermediate crude fell 0.3 percent to $64.82 per barrel, according to data cited by Reuters. Investors now await US President Donald Trump's announcement of the outcome of the trade talks.

Company profile:

Reliance Industries Limited is a deeply diversified Indian conglomerate with dominant positions in petrochemicals, telecom, retail, and an ambitious renewable energy roadmap. With visionary leadership under Mukesh Ambani, RIL is actively transforming into a consumer-tech and clean-energy major, while maintaining its global leadership in refining.

The major business of the giant conglomerate is Oil to Chemical includes refining crude and producing petrochemicals and polymers. Company having its giant refinery at Jamnagar in Gujrat, is the world's largest refinery, with ~1.24 million barrels/day capacity which contributes 53% of previous year’s (2024) revenues.

Another revenue collecting segment of the company is Reliance Retail. It operates ~18,800 stores across 7,000 towns, covering food, electronics, fashion, jewellery, and more. The company accounts for ~27% of group revenue.

Reliance Jio, a subsidiary arm of the conglomerate fetches nearly 11% revenue. Jio Infocomm offers mobile, fiber broadband, and digital services like JioMart and JioCinema. Often called a telecom disruptor in India.

The conglomerate also developing the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar – a ₹75,000 crore (~US$10 billion) integrated set of gigafactories for solar panels, batteries, electrolyzers, etc.

Reliance Life Sciences, Reliance Solar, Logistics, Media & Entertainment (incl. Network18, Viacom18, JioCinema), Textiles (via Alok Industries), Aerospace, and Financial services initiatives like the Jio‑BlackRock JV.