Reliance a good trading bet: N Pillai

Neppolian Pillai of Modern Shares & Stock Brokers feels that Reliance Industries is a good trading bet.

Pillai told CNBC-TV18, "Reliance Industries is going to bring down the market after the pullback is over. It’s going to hit right up to around Rs 1880 to Rs 1780. On the upside, I would sell out in the region of about Rs 2200 and if it touches a little bit beyond that at around Rs 2360, that’s’ not going to be on the buy list on the higher side and it’s a trading bet as of now. You can take Rs 100-150 out of it, but not at investment at this stage and it is going to come and create a new low for itself."

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