Bernstein And Jefferies Bullish On Reliance: What Analysts Say About The ₹1,500+ Target For RIL

Reliance Industries has been trading sideways for a while now, with the stock currently around ₹1,253. After a steep correction of 24–25% from its recent high of ₹1,600, the big question is whether the worst is over. With 2024 marking the first negative year for Reliance in a decade, investors are keenly watching for signs of a turnaround. Several brokerage houses, including Bernstein and Jefferies, are bullish, with target prices of ₹1,520 and ₹1,690 respectively. 

 

Osho Krishan, Senior Research Analyst - Technical & Derivatives, Angel One says Reliance is showing early signs of recovery, emerging above the 20-day EMA for the first time in months. However, he advises caution, noting that the stock is still below key technical levels. The bearish gap around ₹1,270 remains a critical resistance, and until breached, Reliance may continue to move sideways. A buying opportunity could arise above ₹1,270, but until then, subdued movement between ₹1,220 and ₹1,270 is expected.

 

Gaurang Shah, Senior VP, Geojit Financial Services emphasises the long-term potential of Reliance, calling it a "great long-term investment idea" at its current levels of ₹1,200–₹1,250. He remains optimistic with a target of ₹1,500+ and is particularly excited about the upcoming earnings season, which could provide clarity on the company's performance and future direction. On the much-anticipated demergers and IPOs, he stresses that Reliance's management will act in the company's best interest, unlocking value for investors when the time is right.

 

💡 Key Highlights in this video:

 

1. Is Reliance's recent consolidation a sign of recovery?

2. Technical analysis: What levels should investors watch?

3. Long-term outlook: Why analysts remain optimistic.

4. Insights on potential demergers and the buzz around Jio’s IPO.

 

📺 Watch now to understand if it’s the right time to invest in Reliance Industries or to wait for more clarity. 🔔 Don’t forget to like, comment, and subscribe for the latest market insights and expert analysis!