Wednesday, December 08, 2010

Reliance Industries Has Long Term Support At Rs 960: Mohindar

Reliance Industries has long term support at Rs 960, says Rahul Mohindar of Viratechindia.
Mohindar told CNBC-TV18, “Reliance would be the one I would pick. ONGC, Rs 1340, very big resistance and that's where we are at so probably you won’t really like to bet on it right now. Even for that matter Cairn, I think the stock looks relatively sideways but if you look at RIL I think Rs 960, big long term support, we bounced up from those levels. So if the market maintains itself from here and especially of it can really break out that upper end of 6050 – 6070. I think this would really be a stock which can participate so even at these levels Reliance would be the one.”

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