Reliance Industries (RIL) can move to Rs 785-800, says Amit Harchekar of IIFL India Private.
Harchekar told CBC-TV18, "We have already seen major decline in Infosys so you can expect a pullback of 3-4%. From current levels it could be testing again Rs 2,750-2,780 kind of a zone."
He further added, "Reliance has been underperformer since last couple of days but the way we are seeing sort of accumulation going on in Reliance Industries at around Rs 725-730 zone, I am expecting the stock to move towards Rs 785 to Rs 800 because it has been the only stock, which despite having a breakout above Rs 750 levels haven't seen any good momentum upmove. So I believe the laggard would turn into a leading movement in the coming days."
"In metals we have already seen a good amount of rally, so you can expect some sort of a correction around 3-4% higher levels and the rally could be taken by Reliance and few largecaps."
Disclosure: We may have recommended above stocks to our clients but no personal holdings.
