Reliance Power may slip to Rs 72-71: Hemant Thukral

Reliance Power may slip to Rs 72-71, says Hemant Thukral, Head- Derivatives Research, SBI Capital Securities.

Thukral told CNBC-TV18, "Reliance Comm, Reliance Capital saw more of unwinding of positions, but again the rollovers itself are suggesting more panic, the way the shorts were being rolled. You were not expecting Reliance Comm, Reliance Power to touch new all time lows and now they are actually at such levels that you even in the oversold category no rebound is there and Reliance Power and Reliance Infra has even seen fresh shorts on such lower levels. So we do expect Reliance Power to fall more till atleast Rs 72-71 levels."
He further added, "Reliance Infra can retest lower levels of Rs 383-380. But in any case the pressure is towards the selling side only. So I don