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Reliance Industries Ltd.
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  • Financials
  • Technicals
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Reliance Industries Ltd.

  • 2,085.80-58.55 (-2.73%)
  • Closed
  • As On: 26 Feb, 2021, 03:59 PM IST
OPEN TRADING A/C
  • Open2,117.00
  • High2,133.90
  • Low2,070.70
  • Prev Close2,144.35
  • Volume1,72,97,575
  • VWAP(₹)2,096.68
  • Q3 – Declining interest cost

    Interest costs dipped as the impact of debt reduction after recent fund-raising in different verticals becomes visible. This trend might continue as further inflows from rights issue come in May and November 2021.
  • Retail, the next move

    The next round of expansion would come in retail. Clarity on RII’s deal with the Future Group is what needs to be watched. Whether the execution in retail would be as smooth as in the telecom business is the x-factor for the company.
  • Next trigger -- increase in ARPU

    In order to gain and retain its market share, RIL is still continuing with it low tariff strategy in Jio. Once the regime of low telecom pricing is over, an increase in its ARPU (Average Revenue Per User) should help in improving net margins of the telecom business.
  • No major capex in sight

    With capex on telecom arm Jio behind, there is no major capital expenditure on the cards. Net cash flows should improve in the near term.

Found Insights useful?

Key Metrics

  • PE Ratio(x)33.38
  • EPS - TTM(₹)62.48
  • MCap(₹ Cr.)14,06,307
  • MCap Rank1
  • PB Ratio(x)1.85
  • Div Yield(%)0.26
  • Face Value(₹)10.00
  • 52W High(₹)2,369.35
  • 52W Low(₹)867.06
  • MCap/Sales1.18
  • Beta(1 Month)-0.34
  • BV/Share(₹)682.26

Returns

  • 1 Day-2.73%
  • 1 Month7.46%
  • 3 Months6.82%
  • 1 Year49.84%
  • 3 Years122.2%
  • 5 Years338.95%

RIL Recommendations

  • Target₹2325
  • OrganizationMotilal Oswal Financial Services
  • BUY

Financials

  • Dec 2020Sep 2020Jun 2020Mar 2020Dec 2019
    Total Income1,28,450.001,20,444.0092,641.001,40,373.001,56,584.00
    Total Income Growth (%)6.6530.01-34.00-10.352.92
    Total Expenses1,09,217.001,03,876.0072,720.001,25,057.001,36,275.00
    Total Expenses Growth (%)5.1442.84-41.85-8.233.48
    EBIT19,233.0016,568.0019,921.0015,316.0020,309.00
    EBIT Growth (%)16.09-16.8330.07-24.59-0.69
    Profit after Tax (PAT)13,101.009,567.0013,233.006,348.0011,640.00
    PAT Growth (%)36.94-27.70108.46-45.463.36
    EBIT Margin (%)14.9713.7621.5010.9112.97
    Net Profit Margin (%)10.207.9414.284.527.43
    Basic EPS (₹)20.3314.8420.6910.0118.36
    Dec 2020Sep 2020Jun 2020Mar 2020Dec 2019
    Total Income71,016.0065,410.0051,672.0077,902.0090,243.00
    Total Income Growth (%)8.5726.59-33.67-13.68-0.58
    Total Expenses61,035.0055,832.0038,087.0069,543.0075,969.00
    Total Expenses Growth (%)9.3246.59-45.23-8.460.24
    EBIT9,981.009,578.0013,585.008,359.0014,274.00
    EBIT Growth (%)4.21-29.5062.52-41.44-4.70
    Profit after Tax (PAT)8,628.006,546.009,753.002,580.009,585.00
    PAT Growth (%)31.81-32.88278.02-73.08-1.21
    EBIT Margin (%)14.0514.6426.2910.7315.82
    Net Profit Margin (%)12.1510.0118.873.3110.62
    Basic EPS (₹)13.3910.1615.254.0715.12
    FY 2020FY 2019FY 2018FY 2017FY 2016
    Total Revenue6,10,699.005,77,595.004,01,626.003,14,825.002,86,052.00
    Total Revenue Growth (%)5.7343.8127.5710.06-25.52
    Total Expenses5,52,756.005,22,471.003,52,259.002,74,683.002,47,551.00
    Total Expenses Growth (%)5.8048.3228.2410.96-29.86
    Profit after Tax (PAT)39,354.0039,588.0036,075.0029,901.0029,745.00
    PAT Growth (%)-0.599.7420.650.5226.22
    Operating Profit Margin (%)13.4012.5814.6514.4015.39
    Net Profit Margin (%)6.596.959.219.7910.85
    Basic EPS (₹)63.4966.8260.94101.33100.97
    FY 2020FY 2019FY 2018FY 2017FY 2016
    Total Revenue3,50,519.003,80,438.002,98,262.002,50,734.002,40,740.00
    Total Revenue Growth (%)-7.8627.5518.964.15-28.73
    Total Expenses3,05,958.003,33,071.002,52,537.002,09,957.002,05,039.00
    Total Expenses Growth (%)-8.1431.8920.282.40-33.50
    Profit after Tax (PAT)30,903.0035,163.0033,612.0031,425.0027,417.00
    PAT Growth (%)-12.124.616.9614.6220.68
    Operating Profit Margin (%)16.8615.3717.3717.9716.36
    Net Profit Margin (%)9.199.4611.5812.9811.75
    Basic EPS (₹)48.7555.4853.0896.9084.66

    All figures in Rs Cr, unless mentioned otherwise

    Insights
    • Employee & Interest Expense

      Company has spent 3.69% of its operating revenues towards interest expenses and 2.36% towards employee cost in the year ending Mar 31, 2020. (Source: Consolidated Financials)
  • AnnualFY 2020FY 2019FY 2018FY 2017FY 2016
    Total Assets11,65,915.0010,02,406.008,16,348.007,12,339.005,98,997.00
    Total Assets Growth (%)16.3122.7914.6018.9218.73
    Total Liabilities7,04,568.006,07,014.005,19,303.004,45,713.003,64,085.00
    Total Liabilities Growth (%)16.0716.8916.5122.4228.68
    Total Equity4,61,347.003,95,392.002,97,045.002,66,626.002,34,912.00
    Total Equity Growth (%)16.6833.1111.4113.506.04
    Current Ratio (x)0.630.730.590.620.69
    Total Debt to Equity (x)0.640.700.620.700.72
    Contingent Liabilities54,891.0050,904.0060,997.0076,941.0071,110.00
    AnnualFY 2020FY 2019FY 2018FY 2017FY 2016
    Total Assets9,68,912.007,75,745.006,17,525.005,46,746.004,57,720.00
    Total Assets Growth (%)24.9025.6212.9519.4515.07
    Total Liabilities5,44,328.003,70,423.003,02,878.002,58,433.002,17,536.00
    Total Liabilities Growth (%)46.9522.3017.2018.8019.78
    Total Equity4,24,584.004,05,322.003,14,647.002,88,313.002,40,184.00
    Total Equity Growth (%)4.7528.829.1320.0411.11
    Current Ratio (x)0.540.760.650.700.72
    Total Debt to Equity (x)0.540.390.310.350.38
    Contingent Liabilities68,624.001,11,869.0066,970.0073,386.0079,905.00

    All figures in Rs Cr, unless mentioned otherwise

  • AnnualFY 2020FY 2019FY 2018FY 2017FY 2016
    Net Cash flow from Operating Activities98,074.0042,346.0071,459.0049,550.0038,134.00
    Net Cash used in Investing Activities-75,717.00-95,128.00-68,290.00-66,292.00-36,190.00
    Net Cash flow from Financing Activities-2,541.0055,906.00-2,001.008,617.00-3,210.00
    Net Cash Flow19,839.003,745.001,266.00-8,034.00-1,262.00
    Closing Cash & Cash Equivalent30,920.0011,081.004,255.002,989.0011,023.00
    Closing Cash & Cash Equivalent Growth (%)179.04160.4242.36-72.88-11.62
    Total Debt/ CFO (x)2.976.422.543.714.33
    AnnualFY 2020FY 2019FY 2018FY 2017FY 2016
    Net Cash flow from Operating Activities76,560.0029,191.0062,000.0051,450.0044,082.00
    Net Cash used in Investing Activities-142,652.00-53,949.00-59,109.00-54,949.00-42,329.00
    Net Cash flow from Financing Activities70,767.0025,795.00-1,914.00-1,639.00-6,432.00
    Net Cash Flow4,675.001,037.00977.00-5,138.00-4,679.00
    Closing Cash & Cash Equivalent8,443.003,768.002,731.001,754.006,892.00
    Closing Cash & Cash Equivalent Growth (%)124.0737.9755.70-74.55-40.44
    Total Debt/ CFO (x)3.005.391.561.972.10

    All figures in Rs Cr, unless mentioned otherwise

    Insights
    • Decrease in Cash from Investing

      Company has used Rs 75717.0 cr for investing activities which is an YoY decrease of 20.41%. (Source: Consolidated Financials)
  • AnnualFY 2020FY 2019FY 2018FY 2017FY 2016
    Return on Equity (%)8.6810.2212.2911.3712.89
    Return on Capital Employed (%)10.6210.4511.429.2210.19
    Return on Assets (%)3.373.944.414.194.96
    Interest Coverage Ratio (x)3.634.347.1311.4311.43
    Asset Turnover Ratio (x)51.1856.7847.9742.8745.74
    Price to Earnings (x)17.9220.4114.4913.0510.36
    Price to Book (x)1.562.091.781.491.34
    EV/EBITDA (x)9.5311.649.4910.328.65
    EBITDA Margin (%)17.1216.2518.9218.2119.61
    AnnualFY 2020FY 2019FY 2018FY 2017FY 2016
    Return on Equity (%)7.278.6710.6810.8911.41
    Return on Capital Employed (%)8.609.9511.8011.0411.46
    Return on Assets (%)3.184.535.445.745.98
    Interest Coverage Ratio (x)4.685.8610.8215.9815.55
    Asset Turnover Ratio (x)34.6747.9046.9644.2650.93
    Price to Earnings (x)22.8324.6316.6413.6612.36
    Price to Book (x)1.662.131.781.491.41
    EV/EBITDA (x)13.9615.0310.9010.178.89
    EBITDA Margin (%)19.7618.2120.6721.4720.46

Found Financials useful?

Technicals

  • 5 Day EMA Crossover

    Bullish signal on daily chart

    Appeared on: 24 Feb 2021

    5D EMA: 2045.34

    Last Signal 2 Feb 2021 (Gain 3.31%)

    Average price gain of 2.86% within 7 days of Bullish signal in last 5 years

    10 Day EMA Crossover

    Bullish signal on daily chart

    Appeared on: 24 Feb 2021

    10D EMA: 2034.92

    Last Signal 8 Feb 2021 (Gain 6.48%)

    Average price gain of 2.81% within 7 days of Bullish signal in last 5 years

  • 47%
    Positive Movement
    since 1st Jan 2005
    on basis
    53%
    Negative Movement
    since 1st Jan 2005
    on basis
    Exclude

    Global Meltdown1st Jan 2008 to 10th Nov 2008

    Covid Crisis1st Feb 2020 to 31st Mar 2020

  • R12122.90Pivot

    2096.80

    S12059.70
    R22160.00S22033.60
    R32223.20S31970.40
  • 5 Days14 Days28 Days
    63.8358.4255.97

Found Technicals useful?

Peers

  • NAMEP/E (x)P/B (x)ROE %ROCE %ROA %Rev CAGR [3Yr]OPMNPMBasic EPSCurrent RatioTotal Debt/ Equity (x)Total Debt/ CFO (x)
    RIL33.383.068.6810.623.3724.4413.406.6663.490.630.642.97
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    Annual Ratios (%)

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        • There’s no suggested peer for this stock.
      Insights
      • Stock Returns vs Nifty 100

        Stock gave a 3 year return of 118.51% as compared to Nifty 100 which gave a return of 34.28%. (as of last trading session)

      Found Peer Comparison useful?

      Shareholding Patterns

      • CategoryNo. of SharesPercentage% Change QoQ
        Promoters3,32,31,14,98150.54 %0.05
        Pledge00.00 %0.00
        FII1,79,44,85,47927.29 %0.04
        DII70,92,13,60910.78 %-0.36
        MF31,89,41,2974.85 %-0.27
        Others93,52,53,54511.39 %0.27
      • Category31 Dec 202030 Sep 202030 Jun 202031 Mar 2020
        Promoters50.5450.4950.3750.07
        Pledge0.000.000.000.00
        FII27.2927.2526.6526.11
        DII10.7811.1411.6911.75
        Mutual Funds4.855.125.445.42
        Others11.3911.1211.2912.07

      Mutual Funds Ownership

      MF Ownership as on 31 January 2021

      • Equity: Large Cap
        • 8,957.28

          Amount Invested (in Cr.)

        • 10.13%

          % of AUM

        • 1.40

          % Change (MoM basis)

      • Equity: Large Cap
        • 4,616.59

          Amount Invested (in Cr.)

        • 11.78%

          % of AUM

        • 3.37

          % Change (MoM basis)

      • Equity: Large Cap
        • 2,330.84

          Amount Invested (in Cr.)

        • 10.15%

          % of AUM

        • 1.96

          % Change (MoM basis)

      Futures & Options

        • Type
        • Expiry Month
        • Strike Price
        DatePrice

        27-09-2020Current

        0.00-643.20 (-100.00%)

        0.00
        Open
        0.00
        High
        0.00
        Low
        643.20
        Close
        0
        Contracts Traded
        0.00
        Turnover (₹ Lakhs)
        • Expiry Month
        DatePrice

        27-09-2020Current

        2,092.40-65.30 (-3.03%)

        2,129.10
        Open
        2,140.80
        High
        2,078.00
        Low
        2,157.70
        Prev Close
        72,184
        Contracts Traded
        3,80,125.63
        Turnover (₹ Lakhs)

      Corporate Actions

      • Board Meeting

        Quarterly Results

        Jan 15, 2021

        Board Meeting

        Quarterly Results

        Oct 23, 2020

        Board Meeting

        Quarterly Results

        Jul 23, 2020

      • Announced onMeeting on
        Jan 15, 2021Jan 22, 2021
        Quarterly Results
        Oct 23, 2020Oct 30, 2020
        Quarterly Results
        Jul 23, 2020Jul 30, 2020
        Quarterly Results
        Jul 23, 2020Jul 24, 2020
        Quarterly Results
        Apr 28, 2020Apr 30, 2020
        Audited Results, Dividend & Rights issue
      • Announced onEx-DateDividend%
        Jun 11, 2020Jul 02, 202065%
        Apr 30, 2020Jul 02, 202065%
        Apr 18, 2019Aug 02, 201965%
        Apr 27, 2018Jun 27, 201860%
        Apr 25, 2017Jul 13, 2017110%
      • Announced onEx-Date
        Jul 21, 2017Sep 07, 2017
        Bonus Ratio: 1 share(s) for every 1 shares held
        Oct 07, 2009Nov 26, 2009
        Bonus Ratio: 1 share(s) for every 1 shares held
        Sep 13, 1997Oct 27, 1997
        Bonus Ratio: 1 share(s) for every 1 shares held
        Oct 28, 1983-
        Bonus Ratio: 3 share(s) for every 5 shares held
      • No Data Available

      • Announced onEx-Date
        Apr 30, 2020May 13, 2020
        Rights ratio: 1 share for every 15 held at a price of Rs 1257.0
      • Announced onMeeting on
        Jun 22, 2020Jul 15, 2020
        -
        Jul 02, 2019Aug 12, 2019
        -
        Jun 07, 2018Jul 05, 2018
        -
        Aug 01, 2017Sep 02, 2017
        -
        Jun 27, 2017Jul 21, 2017
        -

      About

      Reliance Industries Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 1,410,432.06 Crore) operating in Diversified sector.

      Reliance Industries Ltd. key Products/Revenue Segments include Refinery, Petrochemicals, Other Services, Oil & Gas, Income From Financial Services, Others for the year ending 31-Mar-2020.

      For the quarter ended 31-12-2020, the company has reported a Consolidated Total Income of Rs 128,450.00 Crore, up 6.65 % from last quarter Total Income of Rs 120,444.00 Crore and down 17.97 % from last year same quarter Total Income of Rs 156,584.00 Crore. Company has reported net profit after tax of Rs 14,819.00 Crore in latest quarter.

      The company’s top management includes Mr.Mukesh D Ambani, Mrs.Arundhati Bhattacharya, Dr.Shumeet Banerji, Mr.Raminder Singh Gujral, Mr.Adil Zainulbhai, Dr.Raghunath A Mashelkar, Prof.Dipak C Jain, Mr.Yogendra P Trivedi, Mrs.Nita M Ambani, Mr.Hital R Meswani, Mr.Nikhil R Meswani, Mr.Pawan Kumar Kapil, Mr.P M S Prasad, Mr.K V Chowdary. Company has D T S & Associates LLP as its auditors. As on 31-12-2020, the company has a total of 676.21 Crore shares outstanding.

      About RIL

      Reliance Industries Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 1,410,432.06 Crore) operating in Diversified sector. Show More

      Industry

      Diversified

      Key Indices Listed On

      Nifty 50, S&P BSE Sensex, Nifty 100, Nifty 200, Nifty 500

      Address

      3rd Floor,Maker Chambers IV,222, Nariman Point,Mumbai, Maharashtra - 400021

      Executive Leadership

      AZ

      Adil Zainulbhai

      Non Executive Director
      AA

      Alok Agarwal

      Chief Financial Officer
      AB

      Arundhati Bhattacharya

      Non Executive Director
      DC

      Dipak C Jain

      Non Executive Director
      Show More

      Auditors

      S R B C & Co. LLP
      D T S & Associates LLP

      RIL Share Price Update

      Reliance Industries Ltd. share price moved down by -2.73% from its previous close of Rs 2,144.35. Reliance Industries Ltd. stock last traded price is 2,085.80

      Share PriceValue
      Today/Current/Last2,085.80
      Previous Day2,144.35

      DATA SOURCES: TickerPlant (for live BSE/NSE quotes service) and Dion Global Solutions Ltd. (for corporate data, historical price & volume, F&O data). Sensex & BSE Quotes and Nifty & NSE Quotes are real-time and licensed from BSE and NSE respectively. All timestamps are reflected in IST (Indian Standard Time).

      DISCLAIMER: Any and all content on this website including tools/analysis is provided to you only for convenience and on an “as-is, as- available” basis without representation and warranties of any kind. The content and any output of such tools/analysis is for informational purposes only and should not be relied upon or construed as an investment advice or guarantee for any specific performance/returns advice or considered as recommendation for the purchase or sale of any security or investment. You are advised to exercise caution, discretion and independent judgment with regards to the same and seek advice from professionals and certified experts before taking any decisions.

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      Markets Data

      *

      Key Metrics

      • This is a ratio arrived at by dividing the current market price of a stock by its latest (annual or annualized) earnings per share. Here we have taken the TTM (trailing twelve months) adjusted earnings per share.

      • Earnings per share (TTM) tells the profit after tax earned on a per share basis by a stock over the last twelve months or four quarters.

      • MCap or Market capitalization of a stock is calculated by multiplying the total number of shares outstanding of that particular stock with its current market price.

      • This is the ranking of a company within its sector based on MCap or Market capitalization. Higher the market capitalization of a company, higher the rank it is assigned.

      • Price to Book represents the ratio of current market price of a stock to its book value per share. The book value itself is arrived at by dividing the net worth of a company by the total number of shares outstanding of the company at that time.

      • Dividend Yield calculates the amount of full year dividend declared by a company as a percentage of the current market price of a stock. All other things being equal, higher the dividend yield of the stock, the better it is for investors.

      • Face value of a stock is the value ascribed to the stock as per the balance sheet of the company. The dividend declared by a company is usually declared as a percentage of face value.

      • Beta (β) is a measure of systematic risk. It describes the responsiveness of a stock to fluctuations in the market. Beta coefficient of more than 1 denotes that a security is more volatile than its benchmark and less than 0 signifies that security return is not correlated to market movement.

      • Volume Weighted Average Price represents the average price of a security over a particular time period (example one trading day) weighted by the volume traded at each price point.

      • This represents the 52 week high and low price of the security. It is also the 1 year high and low of the security. This represents the highest and lowest price touched by the security during the past 52 weeks or 1 year including today.

      • Book value represents the value arrived at by subtracting the total liabilities from the total assets of the company. On dividing this value with the total number of shares outstanding for the company, we can arrive at book value per share. Book value is also known as Net Asset Value of a company.

      • This is a ratio of market capitalisation of a company’s stock to its annual sales. The market capitalization here is taken for the fully paid-up equity share of the company.

      Technicals

      • Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

        Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

      • Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

        Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

      • Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

        Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

      • Pivot points are indicative support and resistance levels which are calculated on basis of previous day’s high, low and closing prices. Pivot level for Monday’s trade would be based on Friday’s prices and Monday’s, high, low and close price would go into calculation of pivot levels for Tuesday’s trading session.

        There are two underlying assumptions in pivot points. First, the specific price level indicated by R1, R2 and R3 may act as a barrier or resistance in an uptrend. So, if a stock moves up above these pivots levels, the uptrend gets confirmed. Second these specific price levels may see an increased activity, hence may be used as levels to book profit by traders with a long positions. For traders with short position, these points are often helpful in determining what should be the stop loss for a trade.

        Similarly, in case of support levels as indicated by S1, S2 and S3, they may act as price level where a stock might get a breather when it is slipping southward. In case these supports levels are broken it is a confirmation of a down trend. The stock may also see increased activity close to pivot levels. They may be used by trader may use them to put stop loss for a long trade. If a trader has short position, the pivot level may help in determine a level, where profit may be booked.

        Like any other technical indicator, pivots levels cannot and should not be used as single factor while taking a trading decision. They should be combined with other technical indicators. It could be short term moving averages, stochastic, moving average convergence divergence (MACD) or overbought level as indicated by relative strength index (RSI). For example, if a breakdown of support level (S1, S2 or S3) is accompanied with stock price also moving below its short term moving average or stochastic on daily charts giving a sell signal, it would add to weightage to the decision of taking a short trade.