Take long position in Reliance: Salil Sharma

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Take long position in Reliance: Salil Sharma

Take long position in Reliance Industries (RIL), says Salil Sharma, Technical Analyst, Kapur Sharma & Co.

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Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Salil Sharma See what other Experts & Brokerages are saying about Reliance See messages about Reliance

Take long position in Reliance Industries (RIL), says Salil Sharma, Technical Analyst, Kapur Sharma & Co.

Sharma told CNBC-TV18, "Reliance has made a good flank formation and also given a breakout above that level. So for a long position I would suggest that instead of carrying Nifty home it would be better to take a long position on Reliance and take it home with a stop loss of Rs 788 and the target could be as high as Rs 845 to Rs 850 in the next 1-2 trading sessions."

The company's trailing 12-month (TTM) EPS was at Rs 61.97 per share. (Dec, 2011). The stock's price-to-earnings (P/E) ratio was 13.26. The latest book value of the company is Rs 446.08 per share. At current value, the price-to-book value of the company was 1.84. The dividend yield of the company was 0.97%.