Current Overview of Reliance Industries Share Price
As of September 30th at 12:00 PM, Reliance Industries shares are priced at ₹2982.45, reflecting a decline of 2.29% from the previous closing price. In tandem, the Sensex index is trading at ₹84616.71, marking a downturn of 1.12%. During the trading session, the stock reached a high of ₹3044.3 and a low of ₹2975.1.
Technical Analysis
From a technical perspective, Reliance Industries shares are currently trading above the 10, 20, 50, 100, and 300-day Simple Moving Averages (SMA), yet fall below the 5-day SMA. This indicates that the stock has strong long-term support while facing short-term resistance. Key support levels align with the 10, 20, 50, 100, and 300-day SMA, while the 5-day SMA presents a critical resistance level.
SMA Values Snapshot
The following table summarizes the important SMA values related to Reliance Industries:
| Time Frame | SMA Value |
|---|---|
| 5-Day SMA | Price not specified |
| 10-Day SMA | Price not specified |
| 20-Day SMA | Price not specified |
| 50-Day SMA | Price not specified |
| 100-Day SMA | Price not specified |
| 300-Day SMA | Price not specified |
Pivot Level Analysis
According to a classic pivot level analysis based on daily time frames, Reliance Industries has critical resistance levels at ₹3085.5, ₹3117.7, and ₹3168.45. Conversely, the stock is expected to find key support levels at ₹3002.55, ₹2951.8, and ₹2919.6.
Trading Volume Insights
As of noon today, trading volume on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) for Reliance Industries surged to 103.17% higher than the previous trading session. An increase in trading volume, combined with price movements, serves as a vital indicator for assessing market trends. A positive price shift, accompanied by increased volume, suggests a potentially sustainable upward trajectory, whereas negative price movements with rising volume may indicate a further decline.
Market Sentiment
Overall, the market sentiment, assessed through technical analysis by Mint, suggests that Reliance Industries is experiencing a robust bullish trend. This bullish outlook is backed by strong trading activity and favorable market conditions.
Fundamental Analysis
Looking from a fundamental standpoint, Reliance Industries demonstrates a Return on Equity (ROE) of 9.23% and a Price-to-Earnings (P/E) ratio standing at 30.04. These figures provide a glimpse into the company’s performance metrics and valuations, making it an essential aspect of investment analysis.
Future Price Forecast
Analyst predictions currently suggest a median 1-year upside potential of 10.30%, bringing the target price to approximately ₹3289.53. This forecast reflects a generally optimistic outlook for the stock’s performance in the coming year.
Shareholding Structure
The company’s shareholding pattern reveals a 50.33% promoter holding, while mutual fund (MF) holding stands at 8.37% and Foreign Institutional Investor (FII) holding is at 21.59%, as per the latest filings from the June quarter. Notably, MF holding experienced a decline from 8.47% in March, and FII holding dipped from 21.90% during the same period.
Peer Comparison and Market Position
Today, Reliance Industries shares have dipped by 2.29%, placing it in contrast with its peers. While stocks like Oil India are showing declines, other peers such as Oil and Natural Gas Corporation, Hindustan Petroleum Corporation, and Petronet LNG are experiencing gains. Overall, benchmark indices such as Nifty and Sensex are also facing declines of 1.1% and 1.12%, respectively, indicating a broader market trend.
