RIL likely to underperform: Sukhani

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RIL likely to underperform: Sukhani

Technical Analyst, Sudarshan Sukhani is of the view that Reliance Industries is likely to underperform. It has broken down significant support levels.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Reliance Industries forges ahead Reliance can touch Rs 1100: Mohindar Buy Reliance, target of Rs 1734: Motilal Oswal RIL may slip to Rs 935-940: Gujral Buy Reliance Inds, target of Rs 1880: Angel ALSO READ See previous views by Sudarshan Sukhani 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?

Technical Analyst, Sudarshan Sukhani is of the view that Reliance Industries is likely to underperform.

Sukhani told CNBC-TV18, " Larsen had Rs 700 long-term support, which it touched. So if the Nifty behaves, if the world markets do well, then L&T could easily go into four figures and make a corrective upmove reach even Rs 1,200 that is quite possible."

He further added, "Reliance has broken down significant support levels. So I would no be able to make a call on how much higher it can go. I would say that it would underperform."

Disclosure: Analyst has delta neutral positions in Nifty and investments in shares.