Hold Reliance Industries, says Kunal Bothra

Jan 20, 2014, 06.16 PM IST

Kunal Bothra of LKP suggests holding Reliance Industries.

Tags  Kunal Bothra of LKP, Reliance Industries

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Hold Reliance Industries, says Kunal Bothra

Kunal Bothra of LKP suggests holding Reliance Industries.

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Hold Reliance Industries, says Kunal Bothra

Kunal Bothra of LKP suggests holding Reliance Industries.

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Kunal Bothra of LKP told CNBC-TV18, " Reliance Industries has been struggling for quite long time. If one is probably looking for a short-term view at 2-3 months, it is very difficult for Reliance to break this range because there is no momentum. There is no volume trigger, which is a key signal where you see breakouts happening from any of these frontline stocks, which is been missing in Reliance."

"The only key trigger, which could take Reliance to thousands and beyond is a break of that Rs 900-920 range. If it breaks that barrier then only you could see that momentum picking up in the stock but till the time that does not happen, it is going to be a speculative bet on Reliance whether it is going to be at Rs 1,000 or not. I think at this point the investor can best do is hold, expect a break of Rs 920-925. If that happens, then the chances of coming to Rs 1,000 would be far quicker than rather than anticipating it right now," he added.

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