RIL Q4 results: How to trade the stock, key price zones to watch out and more
Shares of Reliance Industries will be in focus on Friday as the company will announce its fourth quarter results. The estimates by various brokerages see the profitability declining, let down by the mainstay O2C (oil-to-chemicals) business.
Reliance had held its ground this year despite the volatility in markets. The stock gained nearly 6% on a year-to-date basis, which is not bad considering the geopolitical uncertainties.
However, the shares are nowhere near to their highs. After making an all time high around 1603 in July last year, the stock fell into a bear grip to make a low of 1115. The recovery later meant that the price is now 19% away from 52-week highs.
Analysts said the stock is currently moving in the range of 1180-1340 for…
