Reliance Capital has target of Rs 1500: Mathew

Technical Analyst, E Mathew is of the view that Reliance Capital has target of Rs 1500.

Mathew told CNBC-TV18, "Reliance Capital has seen very good accumulation around Rs 965 and Rs 1,040 zone. The ADAG stocks have now come into the limelight for obvious reasons but this stock though it has seen a good bottoming out pattern but I am still viewing this as a pull back rally. At best one could look at a target of Rs 1,500, which is an ambitious target. So anywhere between Rs 1,520-1,600, that is a very strong resistance zone."

Disclosure: Analyst doesn't hold the above stock.