Wait and watch for RIL: CK Narayan, Growth Avenues Asset Advisors

CK Narayan, Growth Avenues Asset Advisors, in a chat with ET Now, gives his call on RIL


What is the call on RIL, this is under Rs 800?

I had a target at about Rs 780, that has been reached. So RIL also if I had short positions, I would look to wind them up. Buying RIL at this juncture is not really so much of a risk. Put a stop at about 10 bucks and I see go long on RIL. Everything has a trade, let me reiterate that, you are not looking to put in long term money in here. It is far too much momentum on the downside, far too much pessimism here. It will need to build a base and then only go up. For the medium term kind of investors, you will see few more sets of occasions to buy, maybe across 1 to 2 months but for traders, this is a good opportunity to be in there pitching your wares.