RIL stock is in a rut: Ashwani Gujral
You can get much better returns on an annual basis in a fixed deposit because I doubt Reliance can do a 10% type return even if you buy it at Rs 900.
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| Updated: Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, in a chat with ET Now, gives his views on RIL
What is the call on Reliance?
RIL has become a bit of a dog. Really you can get much better returns on an annual basis in a fixed deposit because I doubt Reliance can do a 10% type return even if you buy it at Rs 900. The stock really is in a bit of a rut. It needs to get out of this rut, show some momentum before you buy into Reliance. Maybe it is good for a covered call type strategy but it is in a fairly narrow range, probably Rs 880 on the downside, Rs 960 on the upside and I do not think you would bet on such a large cap stock to give you a big move because even the Nifty remains quite ranged in the near term. There are better stocks to get into.
What is the call on Reliance?
RIL has become a bit of a dog. Really you can get much better returns on an annual basis in a fixed deposit because I doubt Reliance can do a 10% type return even if you buy it at Rs 900. The stock really is in a bit of a rut. It needs to get out of this rut, show some momentum before you buy into Reliance. Maybe it is good for a covered call type strategy but it is in a fairly narrow range, probably Rs 880 on the downside, Rs 960 on the upside and I do not think you would bet on such a large cap stock to give you a big move because even the Nifty remains quite ranged in the near term. There are better stocks to get into.
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