RIL, ONGC can see smart rally: Harchekar

Amit Harchekar of IIFL is of the view that Reliance Industries can go upto Rs 975-980 and ONGC has target of Rs 375.
 
Harchekar told CNBC-TV18, “Oil and gas pack is looking quite interesting. If you try to compare it from the global markets even NYMEX crude has confirmed a breakout on the weekly charts. So, I still believe that Reliance has still more room to go up around Rs 975-980.”
 
He further added, “ONGC also seems to be moving sideways after having a sharp rally. So, ONGC has a target close to Rs 375. These two stocks in oil and gas space are looking very good at these levels. Though they have seen a good run up but still 6-7 percent up move is quite possible from these levels.”