Buy Reliance Communication only on dips: Vinith Jain, Siddh Capital

Vinith Jain, Director, Siddh Capital, in a chat with ET Now talks about Reliance Communication and GTL Infra.

What’s the call on Reliance Communication and GTL Infra?

Reliance Communication has been showing good strength on the upside since it made its double bottom in May 2010. The stock has been outperforming the telecom sector also. What I see here is that the stock still has the potential to move up to 235. Though there is not much left on the table for short-term traders, one should be a buyer on dips only. Medium-term players should hold on to the stock and see 235 coming on the stock very soon.

GTL Infra gave a big breakout on Friday. The breakout came near 44 and the stock has been rushing since then. So one should be a buyer in the stock. Dips below 46 should be a good level to buy and up to 55 is quite possible.