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28 Oct 2008

Will Reliance Industries bounce back?

1. Reliance Industries can at best fall to the level of Rs 850 level and thus the present opportunity can be used to buy the said stock with in a range of Rs 950-1,000. The resistance for stock exists at Rs 1,175-1,200-1,250-1,300.

2. Even Goldman Sachs has given a buy recommendation for Reliance Industries and has given a target price of Rs 1,980.

3. Moreover Motilal Oswal has given a buy recommendation for Reliance Industries with a target price of Rs 1734.

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