Reliance Petroleum may go beyond Rs 200: Bose

Technical Analyst, Rajat K Bose is of the view that Reliance Petroleum may actually go beyond Rs 200 levels once again in this upswing. RPL moved up beyond Rs 200 levels one had seen a lot of consolidation between Rs 145 and Rs 176.

Bose told CNBC-TV18, "Before Reliance Petroleum, RPL moved up beyond Rs 200 levels you have seen a lot of consolidation between Rs 145 and Rs 176. RPL this time tested that zone. It went below Rs 176 touched Rs 171 and recovered yesterday. So my feeling is that RPL-the chart formation as well as that congestion zone or consolidation zone whatever you call it-tested that and it is moving up now. So its short-term correction is over and it is on the way up, it may actually go beyond Rs 200 levels once again in this upswing."

Disclosures: It is safe to assume that analyst and his clients may have an interest in the stocks/sectors discussed.