Hold Reliance Communications, stop loss Rs 102: Dutta

According to Devangshu Dutta, Consulting Editor of Outlook one can hold positions in Reliance Communications if the stock moves to Rs 110. The stock looking bullish, he added.

Dutta told CNBC-TV18, "Reliance Communications had a massive rally over the last month. I think it has gained about 80 percent. It has moved up from Rs 60 and today is a 52 week high. One can't identify a target when a stock is moving up like this it could reach any point. One can keep resetting a trialing stop loss. I set a stop loss at Rs 100-Rs 101, maybe Rs 102 even and hold the position and if it moves to Rs 110 then I will move my stop loss up to Rs 105. Essentially it looks extremely bullish."