Gujral told CNBC-TV18, "Reliance Industrial Infrastructure is a clear sell call when something moves 150% in 4-5 sessions. It has now got theoretical resistance Rs 960 but you should sell it, if it opens up another day, You need to now buy it only around Rs 500 because it basically has a vertical kind of chart."
He further added, "In Essar Oil there was a theoretical target of Rs 140 and it got to that pretty quickly, so right now it could move sideways here before it moves further to levels of Rs 157. That is the whole point, when things state moving 40-50% with no conceivable reason, then it sort of gets to a range where risk reward becomes unfavourable."
Disclosure: Analyst has no positions in individual stocks but hold delta neutral positions in Nifty.
