980-985 would be good time to buy into RIL: Angel Broking
Rs 970 is a very important support level for Reliance Industries, so a dip towards those levels to around 980 - 985 would be a good time to buy into Reliance.
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| Shardul Kulkarni, Senior Technical Analyst, Angel Broking
You have a buy on Reliance Industries, a sell on Suzlon and a buy on Havell's. Havell's, of course saw a big technical move in yesterday's session?
Rs 970 is a very important support level for Reliance Industries, so a dip towards those levels to around 980 - 985 would be a good time to buy into Reliance and play for a bounce up to say 1050 odd levels, the price from which the stock corrected yesterday. That is one stock we will watch out for to lead the index on the upside. We are negative on Suzlon, the reason being it is a similar stock to real estate. A similar cycle is going on in Suzlon as well, we are looking at a target price of 66 in Suzlon with a stop loss of 72.5.
You have a buy on Reliance Industries, a sell on Suzlon and a buy on Havell's. Havell's, of course saw a big technical move in yesterday's session?
Rs 970 is a very important support level for Reliance Industries, so a dip towards those levels to around 980 - 985 would be a good time to buy into Reliance and play for a bounce up to say 1050 odd levels, the price from which the stock corrected yesterday. That is one stock we will watch out for to lead the index on the upside. We are negative on Suzlon, the reason being it is a similar stock to real estate. A similar cycle is going on in Suzlon as well, we are looking at a target price of 66 in Suzlon with a stop loss of 72.5.
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