Above Rs 174-175, RNRL can test Rs 191: Bose

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Above Rs 174-175, RNRL can test Rs 191: Bose

Technical Analyst, Rajat K Bose is of the view that above Rs 174-175, RNRL can test Rs 191. Open Interest addition has been happening for the last couple of trading session. If it were to stay above Rs 165 today then the next target would be Rs 174-175.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS RNRL up on huge volume RNRL adds 14 lakh shares in open interest Buy RNRL, IFCI, RPL on dip: Sukhani Stay away from RNRL, Ispat : Mohindar ALSO READ See previous views by Rajat K Bose See what other Experts & Brokerages are saying about IFCI See messages about IFCI IFCI BSE | NSE 29/05/12 Are Mutual Funds betting on IFCI? Other Stocks in this news Reliance Natural Resources |

Technical Analyst, Rajat K Bose is of the view that above Rs 174-175, Reliance Natural Resources , RNRL can test Rs 191.

Bose told CNBC-TV18, "For IFCI Rs 75-78 is the crucial resistance zone. If this range is crossed shortly then one will see this move continuing otherwise either there will be a consolidation in the Rs 70 or it will come down to test Rs 64-65 levels once again."

He further added, "RNRL has closed around Rs 161 it was a good move. Open Interest addition has been happening for the last couple of trading session. If it were to stay above Rs 165 today then the next target would be Rs 174-175 and if by any chance it stays above Rs 174-175 range, then it may go all the way upto Rs 191."