Reliance Industries News - Stocks to Buy – Nifty SEPTEMBER SERIES – RIL shares hit target; no FRESH BUYS, HOLD for THIS target, says analyst

Stocks to Buy – Nifty September Series – RIL Share Price - The Reliance Industries Limited shares are trading with a lot of strength. The stock was previously recommended by analyst Nilesh Jain at the start of the September Series. This stock has already achieved its target price and is now headed for the next target. What should the existing investors do with it – book profits or continue holding it? Is it time for making fresh positions in this stock? Jain, who is Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking, has useful tips for the investors. 

The Reliance Industries shares were trading at Rs 2442 on the NSE on Monday at 12:15 pm, up by 2.2 per cent or Rs 53. The RIL shares hit a life high of Rs 2480 today in the intraday trade. The stock has moved only up over the last 4 trading sessions including today. 

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Jain had recommended this stock with a target price of Rs 2300 with the positional term view. He had estimated a good run in this stock based on the strength of the stock on technical charts.  

The technical analyst has now revised its target in this stock and put it at Rs 2550. He said that the strength is very much there in this stock at present.  

His advice to existing investors is to continue holding this stock and advised against any profit booking. Investors must retain this stock with a trailing stop loss of Rs 2350.  

As for fresh investors this is not the right time to make new positions as the stock has already experience significant upward move on the back of successive rallies. The right levels to enter this stock is Rs 2400, Jain further said.  

The 52-week high for RIL Stock price is Rs 1830, which this stock hit on 29 June 2021.  

RIL shares had been a market laggard for quite some time.