Weekly Stock Picks 28th November 2022

Reliance Industries Ltd LTP 2617

Reliance Industries Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 1,771,066.59 Crore) operating in Diversified sector.Reliance Industries Ltd. key Products/Revenue Segments include Petrochemicals, Oil & Gas, Income From Financial Services, Other Services, Others and Income from Retailing for the year ending 31-Mar-2022.

Quick Check

Open	2,589.00	TTM EPS	98.09
Previous Close	2,579.10	TTM PE	26.69
Volume	33,91,988	P/B	1.97
Value (Lacs)	88,788.68	Face Value	10
VWAP	2,605.35	Mkt Cap (Rs. Cr.)	17,70,984
Beta	1.07	Dividend Yield	0.31
High	2,624.90	20D Avg Volume	0
Low	2,582.10	20D Avg Delivery(%)	—
UC Limit	2,837.00	Sector PE	23.16
LC Limit	2,321.20	Book Value Per Share	1,329.57
52 Week High	2,856.15
52 Week Low	2,180.00

Technical Outlook

The counter is trading on a “Verge Of Consolidation Break-Out” of its Broad On-going Consolidation between 2350 & 2650 Since mid-June 2022
The volume and Open Interest Study suggest the counter has immediate decent support at around 2500 levels.
On the higher-end the counter sustaining above 2500 holds “Range to Positive” outlook for higher first 2700 and major interim 2800 levels in short to mid-term.

Counter	RIL LTP 2617
Call	BUY-ON-DIP towards 2590-2560
Target 1	2700
Target 2	2780
Stop Loss	2500
Time Horizon	1 to 3 weeks
Notes	Exit can be considered if counter trades below stop-loss for 60 minutes

Invest Now

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JSW Steel LTP 726

JSW Steel Ltd., incorporated in the year 1994, is a Large Cap company operating in Metals – Ferrous sector. JSW Steel Ltd. key Products/Revenue Segments include Hot Rolled Coils/Plates/Sheets, Rolled Product, Coils (Cold Rolled), Coils & Sheets (Galvanised), Iron Ore, Billets & Blooms, Others, Other Operating Revenue, M S/S S Slabs for the year ending 31-Mar-2022.

Quick Check

Open	722.00	TTM EPS	31.36
Previous Close	725.95	TTM PE	23.16
Volume	14,66,688	P/B	2.57
Value (Lacs)	10,651.09	Face Value	1
VWAP	725.45	Mkt Cap (Rs. Cr.)	1,75,538
Beta	1.22	Dividend Yield	2.39
High	728.60	20D Avg Volume	2326810
Low	720.10	20D Avg Delivery(%)	21.45
UC Limit	798.50	Sector PE	5.58
LC Limit	653.40	Book Value Per Share	283.28
52 Week High	790.00
52 Week Low	520.05

Technical Outlook

The counter gave a consolidation breakout above 700 & re-testes supports last week.
The counter gave Six Months Highest weekly closing last week above 730 indicating bias “Range to Positive” in short-term
Bias remains “Buy-On-Dip” towards 700-680 levels maintaining strict stop below 670 levels on close.

Price, Volume, OI and Oscillators indicating Positive bias above 700 levels for higher potential 750 and best case 790 levels in next 2-3 weeks.

Counter	JSWSTEEL LTP 726
Call	BUY-ON-DIP towards 710-690
Target 1	750
Target 2	790
Stop Loss	670
Time Horizon	1 to 3 weeks
Notes	Exit can be considered if counter trades below stop-loss for 60 minutes