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22 Sept 2008

Brokerage houses revises target for Reliance Industries

1. Brokerage house Motilal Oswal has become conservative on the prospects of Reliance Industries' price  and has set a target of Rs 2,233 as compared to its previous projections of Rs 2,282.

2. Similarily ABN Amro has retained its 'sell' recommendation for Reliance Industries and has given a  target price of Rs 1,850 for the stock.

3. These updates from these brokerage houses are indicators that Reliance is heading for 1500 level sooner or later. 

4. As it is said that when a ship is about to drown the rats are first ones to leave the ship and now in this hapless situation of Reliance; brokerage houses are first one to leave the stock.

5. We will use these brokerage houses recommendations as a case study to see whether Reliance can fall to 1500 level or not.


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