Reliance Industries looks weak, can slide to Rs 1220: Prakash Gaba

Name: Reliance Industries looks weak, can slide to Rs 1220: Prakash Gaba
Uploaded: 2017-03-22T15:46:51+05:30
Description: Prakash Gaba of prakashgaba.com is of the view that Reliance Industries looks weak and can slide to Rs 1220.

Prakash Gaba of prakashgaba.com is of the view that Reliance Industries looks weak and can slide to Rs 1220.

March 23, 2017 / 10:11 IST

Prakash Gaba of prakashgaba.com told CNBC-TV18, "Reliance Industries is still weak. There is a tiring out pattern in the upper regions. It has got more of exhaustion and has broken down level of around Rs 1280-1285 zone. RIL can slide down to Rs 1220 zones, it is still not strong."

"As far as Infosys is concerned, it is trading sideways. It is against a stiff resistance of Rs 1040 and needs to cross Rs 1040 if it has to go to Rs 1080. If it doesn’t go up, it could tire itself out here and slide down to levels closer to Rs 1000. So, maybe we could see a slide in Infosys," he said.

Disclosure: Reliance Industries owns Network 18 that publishes Moneycontrol.com.

first published: Mar 22, 2017 03:46 pm

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