Reliance Industries can move to Rs 1100: Darashaw

Regan Homavazir, Associate VP-Technical Research at Darashaw has very positive bias on Reliance Industries. He feels that the stock can move to about Rs 1100.

May 15, 2013 / 15:35 IST

26 Aug, 2025 12:21

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Regan Homavazir, Associate VP-Technical Research, Darashaw told CNBC-TV18, "In the oil and gas space, Reliance Industries and ONGC are largely the two stocks that can pull the Nifty higher. As far as Reliance is concerned, we have been having a very positive bias and we have been talking about it turning into an outperformer or market performer very soon. We are looking at Reliance moving to about Rs 1,100."

He further added, "As far as ONGC is concerned, it is in a more neutral spot and we want to see the stock move past Rs 350 to get extremely bullish on it. The charts suggest bullishness but Rs 350 is a point of acceleration. In that case, we would expect about Rs 560 on it. So we would expect ONGC to get there."

first published: May 15, 2013 03:35 pm

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