Tuesday 11 November 2008

Buy Reliance Industries: Bhambwani

Technical Analyst, Vijay Bhambwani is of the view that one can buy Reliance Industries at Rs 960-980.

Bhambwani told CNBC-TV18, "The recent bottom that one saw in the triple-digits is not really a holy cow. It is a likely to be tested if not violated at least. So I would feel comfortable buying Reliance at Rs 960-980 band, but with a clear view that it could actually go down Rs 100 after I buy it and I would hold on and not sell it at that level."

Source: Moneycontrol

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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.