RNRL has target of around Rs 42-44: Thacker

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RNRL has target of around Rs 42-44: Thacker

RNRL has target of around Rs 42-44, says Mitesh Thacker, Technical Analyst, miteshthacker.com.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Mitesh Thacker See what other Experts & Brokerages are saying about Reliance Natura See messages about Reliance Natura Reliance Natura BSE | NSE 01/01/70 Are Mutual Funds betting on Reliance Natura?

RNRL has target of around Rs 42-44, says Mitesh Thacker , Technical Analyst, miteshthacker.com.

Thacker told CNBC-TV18, "RNRL could also be a proxy play in the sense that we could have recommended R Power here. After a long decline from Rs 70 levels, this stock is showing some signs of revival. We have seen this stock declining every day after day and at Rs 37 this stock price has found some support. So I expect a bounce back, the risk reward is very favourable over here. So stop loss of Rs 37 and targets of around Rs 42-44."

The company touched its 52 week high Rs 92.90 and 52 week low Rs 36.85 on 22 Sep, 2009 and 18 Aug, 2010, respectively. Currently, it is trading -58.99% below its 52-week high and 3.39% above its 52-week low. Market capitalisation stands at Rs 6,222.23 crore.