Bose told CNBC-TV18, " Reliance Petroleum could be one stock that one can play on the long side because despite there had been weakness all around, this stock was showing a major relative strength and chances are you might see Reliance Petroleum June futures going upto Rs 176-179 and Rs 167 should be a stoploss."
He further added, "Ranbaxy might have resistance between Rs 532-534. Suppose if it were to cross that level on the upside then Rs 540 would be the level I would suggest that one better book your profits."
Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.
