Friday 7 November 2008

Reliance Infrastructure can test Rs 650: Mathew

Technical Analyst, E Mathew is of the view that Reliance Infrastructure is looking very interesting and it can test Rs 650.

Mathew told CNBC-TV18, "Tata Steel is showing remarkable strength specially when you have so much negative news about the sector and I wouldn’t be surprised that for the brave traders, people who could keep a stoploss of around about Rs 170 odd and one could take a positional trade in Tata Steel and look for something like Rs 220 or Rs 225."

He further added, "Reliance Infra is also looking very interesting. These are all trading bets and Reliance Infra also looks poised for a good run and I wouldn’t be surprised if this move takes it to around Rs 650."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source: Moneycontrol

Posted by Harsh at 07:21

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