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Reliance can head up to Rs 1500: Gujral

This article was posted on Jan 5, 2009 and is filed under Stock Research

Technical Analyst, Ashwani Gujral is of the view that Reliance Industries could head up to Rs 1500. After that it can even touch Rs 1650-1700, he added. Gujral told CNBC-TV18, “Reliance has a similar pattern just like the Nifty and this could head up to Rs 1500 and if incase we stay above that then there is an outright possibility that we may do 1650 and 1700.”

He further added, “ONGC Rs 750 is a key level and once we can get passed that you could see Rs 815-820 and particularly the crude rally is significant here because oil has such a significant weight age and if oil stocks come back its quite natural for the Nifty to rally.”

source: Moneycontrol

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