RELIANCE STOCK PRICE & YESBANK STOCK ANALYSIS
So here are the Latest Stock Picks from NIFTY.
Reliance Industries Limited
Reliance Industries Limited is an Indian conglomerate holding company headquartered in Mumbai, Maharashtra, India. This company owns businesses across India engaged in energy, petrochemicals, textiles, natural resources, retail, and telecommunications. Now it is moving towards toys business buy purchasing Hamleys ‘A 259 Year old British Toy Maker for 67.96 Million Pounds (Around Rs 620 Crore) in an all cash deal.’ Hamleys is currently owned by Chinese Fashion conglomerate C Banner International who purchased Hamleys for 100 Million Pound in 2015. Reliance signed the deal on Thursday 9 May’19 with C Banner for 100% ownership in Hamleys.
Reliance Stock Price is in downtrend and touched price of Rs 1254 from its life time high of Rs 1417. As a result, Traders from short term horizon or investor for a long term can look for an opportunity and buy stocks of Reliance Industries. Also, the Relative Strength Index of the Stock is hovering at 32.92 which is a positive sign. Stock is about to touch 200 Day Moving Average at Rs 1208 which will be a golden opportunity. Therefore, Stocks of Reliance Industries Limited are selling at a very cheap price and will a long way from current levels. The target price can be achieved by the stock in 2-3 Months. Risk-to-Reward for this opportunity is 1:5 which is an excellent buy.
Current Price : 1256.45
Target Price : 1600
Stop Loss : 1190
Yes Bank Stock Analysis
Yes Bank Limited is India’s fourth largest private sector bank, founded by Rana Kapoor and Ashok Kapur in 2004. It primarily operates as a corporate bank, with retail banking and also asset management as subsidiary functions.
Traders from short term perspective can look for an opportunity in the stocks of Yes Bank. This stock was in downtrend since 4 Apr’19 and widen the depth of the down trend was due to it’s disappointing quarterly results. However on Thursday, Stock formed a Bullish Engulfing Pattern. Relative Strength Index of the Stock is hovering at 28 which is below than over sold zone and an excellent sign of the time to ride on the opportunity. Also, Moving Average Convergence/Divergence is also turning upwards with above than average volume (Around 100 Mn).
Current Price : 170.30
Target Price : 207
Stop Loss : 157
View on Last Trading Tips
My previous call on PC Jeweller & MAHABANK was an excellent hit with more than 6% profit in Intraday. You should check the call and verify the results by yourself.
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Note: Above mentioned Stock Tips are based on Technical or Fundamental Analysis. However, Stock market is always volatile and risk is always inclusive in the investment. Author is not liable for any losses.