As per view of technical analysts, traders can buy RELIANCE INDUSTRIES at current market price. This is a day trading recommendation and stop loss for this counter is Rs 2864 for a target of Rs 2907-2926.

RELIANCE INDUSTRIES is India's largest petrochemical firm and is the largest private sector company in India. The stock price has been firm in past two quarters and the stock has performed better than markets.

The activity of RELIANCE INDUSTRIES is to produce and distribute plastic and intermediates, polyester filament yarn, fibre intermediates, polymer intermediates, crackers, chemicals, textiles, oil and gas.

Based on current results, the stock of the company is trading at a P/E of 32 and offers an earning per share of Rs 87.73.

At National Stock Exchange, the stock has touched 52-week high of Rs 2989 with a low of Rs 1002.

Other companies from the sector which are looking good include Larsen, Grasim and Century.

As per latest profit and loss account, company has registered a net profit of Rs 11943 for year ending March 2007 and Rs 3837 for quarter ending September 2007.

The company is poised for growth in coming quarters and is a good stock for long term.