Reliance Industries is not a trading bet: Mazhar Mohammad

If you want to create wealth from Reliance Industries (RIL), it is better to say put with the company for the long-term. In an interaction with Money9.com, Mazhar Mohammad, Founder, Chartview India said that the energy-to-telecom behemoth is not a trading bet. Of late, shares of the company have jumped more than 11% in August so far. The scrip has jumped to Rs 2,270 from Rs 2,035.40 on July 30 last month. Mohammad added that one should stay invested in RIL for another 3-5 years. “Listing of Reliance Jio and Reliance Retail will unlock value for shareholders,” he said. While commenting on the benchmark equity index NSE Nifty, Mohammad added that as long as the 50-share index sustains over 16,720-mark, one should remain positive and look for higher targets of 17,135 and 17,200. The NSE Nifty index traded 25.40 points, or 0.15%, higher at 16,956. He further added that as long as Bank Nifty sustains above 35,900 then it may move towards the 37,000-mark. Mohammad also suggests three trading ideas for the short term. Have a look: Exide Industries | Buy | Target price: Rs 177 | Stop loss: Rs 155 GMDC | Buy | Target price: Rs 81 | Stop loss: Rs 60 Greaves Cotton | Buy | Target price: Rs 157 | Stop loss: Rs 129 Meanwhile, equity benchmark Sensex crossed the 57,000-mark for the very first time, as it jumped over 200 points in early trade on Tuesday, tracking gains in index heavyweights Infosys, HDFC Bank and TCS amid fresh foreign fund inflows. In tandem, the broader NSE Nifty was trading a tad below the crucial 17,000-mark.  

If you want to create wealth from Reliance Industries (RIL), it is better to say put with the company for the long-term. In an interaction with Money9.com, Mazhar Mohammad, Founder, Chartview India said that the energy-to-telecom behemoth is not a trading bet.

Of late, shares of the company have jumped more than 11% in August so far. The scrip has jumped to Rs 2,270 from Rs 2,035.40 on July 30 last month. Mohammad added that one should stay invested in RIL for another 3-5 years.

“Listing of Reliance Jio and Reliance Retail will unlock value for shareholders,” he said.

While commenting on the benchmark equity index NSE Nifty, Mohammad added that as long as the 50-share index sustains over 16,720-mark, one should remain positive and look for higher targets of 17,135 and 17,200. The NSE Nifty index traded 25.40 points, or 0.15%, higher at 16,956.

He further added that as long as Bank Nifty sustains above 35,900 then it may move towards the 37,000-mark. Mohammad also suggests three trading ideas for the short term. Have a look:

Exide Industries | Buy | Target price: Rs 177 | Stop loss: Rs 155

GMDC | Buy | Target price: Rs 81 | Stop loss: Rs 60

Greaves Cotton | Buy | Target price: Rs 157 | Stop loss: Rs 129

Meanwhile, equity benchmark Sensex crossed the 57,000-mark for the very first time, as it jumped over 200 points in early trade on Tuesday, tracking gains in index heavyweights Infosys, HDFC Bank and TCS amid fresh foreign fund inflows. In tandem, the broader NSE Nifty was trading a tad below the crucial 17,000-mark.