SENSEX NIFTY
Mar 04, 2013, 01.34 PM IST | Source: CNBC-TV18

Buy RIL; target of Rs 836: Vayalar

Manoj Murlidharan Vayalar, IIFL PReMIA is of the view that one can buy Reliance Industries with a target of Rs 836 and ICICI Bank can go upto Rs 1120.

Manoj Murlidharan

Head- Derivatives, Religare Securities

Expertise : F&O

More about the Expert...

Manoj Murlidharan Vayalar, IIFL PReMIA is of the view that one can buy Reliance Industries with a target of Rs 836 and ICICI Bank can go upto Rs 1120.

Vayalar told CNBC-TV18, “I feel Reliance Industries (RIL) is good. We can go and buy that. The reason why I am saying this is weighted average price for this stock works excellent Rs 798 to Rs 800 is the weighted average price of the accumulation. If you check the last seven-eight months and we feel that is more or less at that level of Rs 813, we can go to and buy that, keep a stop loss at Rs 804 and Rs 836 is the first target we are seeing on that.”

He further added, “Second would be ICICI Bank . I feel that is one scrip where the distribution has not happened on the cash side though after the stock has corrected some 7-8 percent, we are seeing shorts in the derivative side but that cash distribution has not happened. So once we see a short covering, we will see the surplus getting added on the cash market. That is a long on our side as well, Rs 1,068 is what it is trading at. Stop loss of Rs 1,048 and Rs 1,120 is what we are expecting on ICICI Bank.”

Set email alert for
Reliance ICICI Bank

ADS BY GOOGLE

video of the day

See 8000 Nifty by Dec, bullish energy, cap goods: Religare

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.