Reliance Industries has support around Rs 880, says Anil Manghnani, Modern Shares & Stock Brokers.
Manghnani told CNBC-TV18, “Reliance Industries, after hitting although a Rs 950 it has come off quite a bit. So, it I guess it warrants a little bit of a buy, I guess just from oversold territory. Rs 880 is a support, but I don’t mind all the way upto about Rs 860. So in that Rs 20 range buy it with a stop of about Rs 855 and play for a pullback Rs 910-920 range, maybe even a little bit higher.”
At 12:11 hrs Reliance Industries was quoting at Rs 893.30, up Rs 10.75, or 1.22%. It has touched an intraday high of Rs 902.85 and an intraday low of Rs 886.35.
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