Short Reliance Comm at Rs 145-148: Anu Jain
Short Reliance Communications at Rs 145-148, says Anu Jain, IIFL Private Wealth Mgmt, IIFL.
January 13, 2011 / 09:56 IST
Short Reliance Communications at Rs 145-148, says Anu Jain, IIFL Private Wealth Mgmt, IIFL.
Jain told CNBC-TV18, "Reliance Communications is a very highly volatile scrip to go and short it on a day when the market is on a pullback would be slightly dangerous but to wait for a level where it meets strong resistances, so closer to Rs 145-148 because we have seen sharp pullbacks happen in that zone. I think that would be a fair level to kind of go and short the counter."She further added, "It is one of the most extremely weak charts that we have seen offlate can break down to levels of essentially closer to Rs 127. So as I said, there should be no rush to get into a trade but when you get the opportune trade, you should not hesitate to do it, so probably at higher levels, RCOM makes a very good choice." Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
