Reliance is among the first companies globally to adopt an Oil-to-Chemicals (O2C) strategy to produce the chemical building blocks of a circular economy and integrate it with sustainable downstream derivatives, useful chemicals, and new materials. Reliance is now one of the largest Oil & Gas Exploration and Production players in India with a balanced domestic conventional and unconventional hydrocarbons portfolio.
Previous Close
2984.25
TTM EPS
103.41
52 Week High
3000.90
TTM PE
28.84
52 Week Low
2180.0
P/B
2.46
Sector PE
39.09
Mkt Cap (Rs. Cr.)
20,17,691
(Source: Moneycontrol, BSE, Fisdom Research)
Technical Outlook
(Source: Fisdom research)
Reliance has witnessed an up-move of over +15% in the current year 2024 as of now. Post the sharp up-move witnessed earlier the counter has entered into a consolidation phase. For the last four weeks, the counter has been within a range between 2850 & 3000 zones.
The counter has an immediate minor hurdle at around 3000 followed by higher positional targets of 3100 & higher 3200-3240 zone on the short to mid-term time-frame.
As per the short-term outlook bias can be “Buy-On-Dip” towards 2940 & lower 2880 levels for potential higher 3100 & higher thereafter maintaining a stop below 2840 or 2800 levels on a closing basis.
Option Chain Study
Derivative Option Chain data indicates “Tug-Of-War” at around 3000 Strike rates where the “Supply” is still intact. Once RIL holds above 3000 levels can witness fresh buying cum short-covering.
Maximum CE build-up is at 3000 & 3100 Strikes while maximum PE build-up is at 2900 & 2800 Strikes. Dips towards 2940 & 2880 odd can provide fresh better risk-reward ratio for fresh trading long bets. Overall, look for hedged long strategies unless the counter witnesses short-covering in days to come.
Hindustan Copper Limited (HCL), a Miniratna Category-I, Government of India (GoI) Enterprise under the administrative control of the Ministry of Mines, was incorporated on 9th November 1967. he Company has the facilities for production & marketing of copper concentrate, copper cathodes, continuous cast copper rod and by-products, such as anode slime (containing gold, silver, etc.), copper sulphate and sulphuric acid. Presently, company is focusing on mining & beneficiation operation and is primarily selling copper concentrate as the main product. In the concluded financial year 2022-23, the Company has earned a net profit (PAT) of Rs 295.31 crore against a sales turnover of Rs 1660.63 crore. HCL’s mines and plants are spread across five operating Units, one each in the States of Rajasthan, Madhya Pradesh, Jharkhand, Maharashtra and Gujarat.
Previous Close
272.10
TTM EPS
3.14
52 Week High
306.9
TTM PE
89.68
52 Week Low
93.9
P/B
13.1
Sector PE
87.69
Mkt Cap (Rs. Cr.)
27,231
(Source: Moneycontrol, BSE, Fisdom Research)
Technical Outlook
(Source: Fisdom research)
Hindcopper has witnessed an up-move of 4% in the current year 2024 while +8.21% this week. Post sharp up-move the counter has entered into a consolidation phase. Since the last nine weeks, the counter has been within a range between 240 & 300 zones.
The counter has an immediate minor hurdle at around 300 followed by higher positional targets of 305/ 320 & higher 360 levels in the short to mid-term time frame.
As per short-term outlook bias can be “Buy-On-Dip” towards 278 & lower 264 levels for potential higher 305 & higher 320+ thereafter maintaining stop below 260 or 240 levels on closing basis as per risk-appetite & time-frame of trade.
Option Chain Study
Derivative Option Chain data indicates “Tug-Of-War” at around 300 Strike rates where the “Supply” is still intact. Once Hindcopper holds above 300 levels can witness fresh buying cum short-covering.
Maximum CE build-up is at 300 & 280 Strikes while maximum PE build-up is at 260 & 250 Strikes. Dips towards 260 & 240 odd can provide a fresh better risk-reward ratio for positional fresh long bets.
Overall, look for hedged long strategies unless the counter witnesses short-covering in days to come.
Disclaimer: This document is not intended for anyone other than the recipient. The contents of this document may not be reproduced or further distributed to any person or entity, whether in whole or in part, for any purpose. If you have received the publication in error please notify the sender immediately. If you are not the named addressee, you should not disseminate, distribute or copy this document. You are hereby notified that disclosing, copying, distributing or taking any action in reliance on the contents of this information is strictly prohibited. All non-authorised reproduction or use of this document will be the responsibility of the user and may lead to legal proceedings. This document has no contractual value and is not and should not be construed as advice or as an offer or the solicitation of an offer or a recommendation to take action in consonance in any jurisdiction. Finwizard Technology Private Limited (“Fisdom”) makes no guarantee, representation or warranty and accepts no responsibility or liability for the accuracy or completeness of the information and/or opinions contained in this document, including any third party information obtained from sources it believes to be reliable but which has not been independently verified. In no event will Fisdom be liable for any damages, losses or liabilities including without limitation, direct or indirect, special, incidental, consequential damages, losses or liabilities, in connection with your use of this document or your reliance on or use or inability to use the information contained in this document, even if you advise us of the possibility of such damages, losses or expenses. Fisdom does not undertake any obligation to issue any further publications or update the contents of this document. The information stated and/or opinion(s) expressed herein are expressed solely as general commentary for general information purposes only and do not constitute advice, solicitation or recommendation to act upon thereof. Fisdom does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this document. The information contained within this document has not been reviewed in the light of your personal circumstances. Please note that this information is neither intended to aid in decision making for legal, financial or other consulting questions, nor should it be the basis of any investment or other decisions. Fisdom may have issued other similar documents that are inconsistent with and reach different conclusion from the information presented in this document. The relevant offering documents should be read for further details. You should make such researches/inspections/inquiries as it deems necessary to arrive at an independent evaluation of companies referred to in this document (including the merits and risks involved), and should consult its own advisors to determine the merits and risks involved. Fisdom makes no representations that the offerings mentioned in this document are available to persons of any other country or are necessarily suitable for any particular person or appropriate in accordance with their local law. Among other things, this means that the disclosures set forth in this document may not conform to rules of the regulatory bodies of any other country and investment in the offer discussed will not afford the protection offered by the local regulatory regime in any other country. Past performance contained in this document is not a reliable indicator of future performance whilst any forecasts, projections and simulations contained herein should not be relied upon as an indication of future results. The historical performance presented in this document is not indicative of and should not be construed as being indicative of or otherwise used as a proxy for future or specific investments. The relevant product documents should be read for further details. Fisdom does not undertake any obligation to issue any further publications to you or update the contents of this document and such contents are subject to changes at anytime.
More than 2 Lakh investors like you read our newsletter 'The Signal'
Subscribe now for easy to understand stock market insights in your inbox once a week
