Reliance Capital may face resistance at Rs 540-545: Tulsian

Tulsian told CNBC-TV18, “One can’t really say that the secular bull run or secular positive move are being seen on all infra stocks. There maybe some exceptions. Last week or maybe couple of days we have seen that happening in case of IVRCL, NCC kind of stocks, but the larger ones have really not participated if you really take a call like Lanco Infra or maybe the Punj Lloyd kind of stocks.”

He further added, “Reliance Infra has it own and you don’t come across any of the positive news also specifically getting attributed for the shares to move up. So this could only be given that the technical forces, because the kind of run up which we have seen in the ADAG stocks in these last 10 days Reliance Infra is definitely taking a lead followed by Reliance Capital. So this seems to be more a technical up move and maybe this should halt somewhere at around Rs 540-545 where we may again see the stock falling back to about Rs 500 level.”