Reliance Industries shares: Monarch sees 20% upside in 3–4 months - Reveals buy range, targets for Mukesh Ambani stock
Reliance Industries is in focus.
· LiveMint Markets
Monarch Networth Capital named Reliance Industries its stock pick of the week, citing a potential triple-bottom pattern near ₹1,150–1,180. It recommends accumulating at ₹1,180–1,220, with a target of ₹1,350–1,450 over three to four months and a closing-basis stop loss below ₹1,100.
The analysis
Reliance Industries reported ₹1,150, ₹1,180 and ₹1,350, with movement of 20% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -2.0% on the day at ₹1,184.50, and has returned -7.3% over three months. It sits 26% below its 52-week high, which means a good deal of bad news was already in the price. The oil & energy sector has moved -5.1% over the same period, so Reliance Industries is running 2.2 points behind its peers.
For Reliance Industries, the question is how much of this is already reflected in the price and how much re-rates the oil & energy peer set alongside it.
Market context
- The company directly in focus is RELIANCE.
- Sector exposure: Oil & Energy, Capital Goods & Engineering, Capital Markets.
- The immediate tone of coverage reads negative.
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