If you want to sell RIL, do it on rallies: Technical Trends

What is your view on Reliance?

Sudarshan Sukhani: Reliance is a stock that I hesitate to sell. It is the largest private sector company. It has its own glamour and value but I would not buy it. Reliance has broken down from that 950 support level, that support was holding for almost 16-17 months. There is a message there, a technical message that it is not going to recover in a hurry. So Reliance is certainly not a buying opportunity. If you do want to sell, then yes Reliance can be sold on rallies. I personally do not like selling it short.

What is your view on commodities?

Sudarshan Sukhani: Commodities are not likely to become big outperformer in this relief rally. We saw Hindalco move up yesterday but that is about it. The rally is about the smaller players here or there. That is why commodities is not the favourite at least for today.