Buy Reliance below Rs 950: Bonanza Portfolio

In a chat with ET Now, RL Narayanan, Vice President-Equity & Institutional Sales, Bonanza Portfolio, shares his views on the outlook of Reliance Industries.

What is the call on Reliance Industries under Rs 1,000?

If you look at the charts, for the past 19 months, this stock has not performed and it is again from the high of around Rs 1000-1120, this stock has given up all the gains and it is way back to Rs 960. So, for me from the risk to reward perspective, I would simply look at Reliance if it comes to a level of around Rs 945 or Rs 950. Below a price of Rs 950, I would be comfortable buying Reliance, otherwise I would not touch this script.