RIL has support at Rs 1600-1550: N Jain

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RIL has support at Rs 1600-1550: N Jain

Neera Jain, Chief Tech Analyst of crnindia.com is of the view that Reliance Industries has support at Rs 1600-1550.

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Excerpts from Markets Midday on CNBC-TV18 Watch the full show » ALSO READ See previous views by Neera Jain See what other Experts & Brokerages are saying about Reliance See messages about Reliance Reliance BSE | NSE 09/02/12 Are Mutual Funds betting on Reliance?

Neera Jain , Chief Tech Analyst of crnindia.com is of the view that Reliance Industries has support at Rs 1600-1550.

Jain told CNBC-TV18, "Reliance is a very strong stock. It has been performing very well before it started moving along with the market and started falling down. When I see the long-term charts of Reliance, I see that it is at a very strong support at Rs 1,600-1,550 levels. So if anybody wants to invest, I don't want them to invest directly in the stock they can buy a call over here at these levels. The stoploss they can maintain as two days closing below their buying price but only a call. That's all not a future or a stock of Reliance."