Exit Reliance Industries: VK Sharma

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Exit Reliance Industries: VK Sharma

VK Sharma of Anagram Stock Broking is of the view that traders need to get out from Reliance Industries.

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Excerpts from Markets Midday on CNBC-TV18 Watch the full show » RELATED NEWS Reliance Ind among major gainers Hold Reliance Industries, says Madan RIL likely to underperform: Sukhani Reliance Industries forges ahead ALSO READ See previous views by VK Sharma See what other Experts & Brokerages are saying about Reliance See messages about Reliance Reliance BSE | NSE 28/05/12 Are Mutual Funds betting on Reliance?

VK Sharma of Anagram Stock Broking is of the view that traders need to get out from Reliance Industries .

Sharma told CNBC-TV18, "I don't see any fundamental reason why Reliance should be up 45% from the lows that we have seen in the current rally in October. When the stock runs up 43% from the bottom, by all means traders need to get out. Some other kind of buying might have happened at the counter, which I don't think the people were looking at in terms of making trading profits should now look at the stock and those traders who are still there, they need to be nibble footed. Go on and trade the stock as long as your stoploss is not triggered and keep increasing stoploss going forward."