Buy Reliance Comm at current levels, says Aditya Agarwal, Sr. Derivative Analyst, Way2Wealth.
Agarwal told CNBC-TV18, " Reliance Infra has already seen a sharp moment and it is currently trading around resistance of Rs 600 so from these levels I would not advice a long on Reliance Infra but there is some more space in Reliance Capital and RComm. In Reliance Capital we are targeting towards Rs 430 to Rs 440 in next couple of days so Reliance Capital long positions can be initiated. Similarly in RComm also we are expecting it may touch Rs 98 to Rs 100 levels. So it can be bought around Rs 93-94 levels with a stop loss of Rs 90 and on higher side it can test Rs 100 levels."
He further added, "If we see Bharti Airtel then Rs 400- 410 this band was a very strong resistance level. Multiple times we have seen that Bharti has tested those levels and from those levels every time we have seen heavy profit booking in Bharti. And the same we have seen this time also and this time we have also seen lot of short built up. Today only Bharti has added almost 47-48% shares in open interest."
