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Jun 11, 2012, 05.27 PM IST
Go long on Reliance Infrastructure with a price target of 5-10% from the current levels, says Kunal Bothra, Senior Technical Analyst at LKP.
Go long on Reliance Infrastructure with a price target of 5-10% from the current levels, says Kunal Bothra, Senior Technical Analyst at LKP.
Bothra told CNBC-TV18, "Reliance Infrastructure has been very strong because last 5-7 days it consistently managed to outperform the index, trading above 200 day moving average. In terms of technical it is a strong chart. Today is a strong day but GVK Power is a high beta stock so one has to wait and watch for the next couple of days if stock manages to sustain the momentum, probably trading on a day when it’s up 17-18% odd one tend to lag the strong momentum because on the upside the stock might just languish around Rs 15-16 levels but if one look at long-term chart for Reliance Infra is good and from medium-term perspective also one can go long with a price target close to 5-10% from the current levels." Disclosure: No personal holdings in any of the stock but at LKP we keep recommending them to our clients.
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