Buy SAIL with target of Rs 105-110, says Baliga

Buy SAIL at the current levels with possibly a price target of about Rs 105-110, says Ambareesh Baliga, Independent Analyst.

Baliga told CNBC-TV18, “I am looking at buying into steel. Again, Steel Authority of India (SAIL), I think at current levels seems to have bottomed out. I don’t see much of a downside. So, I think I will again buy SAIL at the current levels with possibly a price target of about Rs 105-110, again this is not a short-term target. I am looking at possibly the next 4-6 months.”
He further added, “Reliance Industries, which has been my favourite for quite a while – it has dipped decently well in the past few days. I think it is again a buying opportunity and I am looking at price levels of about Rs 1,050-1,060 again based on gas pricing, which I see happening quite soon.”