Apr 22, 2013, 11.38 AM | Source: CNBC-TV18
Sudarshan Sukhani of s2analytics.com is of the opinion that one can buy Reliance Communications.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
Sukhani told CNBC-TV18, " Reliance Communications still is a buy. It is a ferocious rally and it was at Rs 800 or Rs 900 a few years ago. Therefore, if one sees the context, even a small rally can take it higher. It is an excellent breakout, it has been sustained. Those big ranges on the upside; one is something that can happen, but RComm is giving repeated ranges on the upside, big bars, strong money is coming in. It is worth buying into.”
The share touched its 52-week high Rs 91.85 and 52-week low Rs 46.60 on 22 January, 2013 and 30 August, 2012, respectively. Currently, it is trading 6.75 percent below its 52-week high and 83.8 percent above its 52-week low. Market capitalisation stands at Rs 17,678.39 crore.
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