The target level on the downside is 81 for RCom: Rajat Bose

In a chat with ET Now, Rajat Bose, rajatkbose.com, talks about ADAG stocks.

ET Now: The entire ADAG Group, in particular Reliance Communications, after a weak start, this stock is now seeing a bounce back, has already jumped into the green, would you advise retail investors to still stay away or would you take a trading bet?

Rajat Bose: Trading bet with a stop loss, you can dabble in any counter as such but then in my experience what I have seen over the last 2 decades is that most people take a trading bet and then they get stuck with it and then becomes long term investments. I would suggest that yes if you want to dabble in it, you can provided you put a stop loss below the recent low and that is about say Rs 90 or so and on the upside, you can expect something like 115 to about 122 but this can only happen if the Nifty were to continue to show its bullishness. Otherwise Reliance Communications would once again resume its downtrend and if it goes below 89, then further downsides are expected as it is from a particular technical pattern projection, 81 is the target level on the downside.