Friday, June 25, 2010

Deepak Mohoni: RNRL, Reliance Capital, Reliance Power Best Bets

Deepak Mohoni, Director, spoke to ET Now on Reliance stocks.

ADAG and RNRL, Reliance Capital, Reliance Infra, Reliance Comm all of these stocks barring RNRL are actually down roughly about a percent in trade. Would any of these make good bets for buy today /sell tomorrow if you are looking at a very very short term trade? Is anything out of the ADAG pick your eye?

Well, actually most of them because ever since the Ambani brothers had the get-together, there has been a huge amount of momentum in the ADAG pack and it’s not really giving up.

Now today is a down market day. So it had an effect on these stocks a little bit, but the medium term trend in these stocks is very much up. So out of these RNRL, Reliance Capital, Reliance Power, these really look the best of the lot but it’s clearly a pack movement, it’s not necessarily fundamental industry kind of a movement here.