Neutral on Reliance Industries: Ashwani Gujral

In a chat with ET Now, Ashwani Gujral, Fund Manager, Ashwanigujral.com shares his views about Reliance Industries.

ET Now: What is the call on Reliance Industries post earnings?

Ashwani Gujral: Well Reliance is also in some kind of a range say about 700-710 on the downside and 860 on the upside. In case the market starts breaking down from the current levels of 5180, Reliance could possibly be one of the leaders on the downside but it will get supported by the buyback. So, it can go down to those 700-710 kind of zones but around there I would think that the buyback can support it. So, the company would probably keep the stock range-bound more than anything else but it is not showing any strength.