Buy Reliance Defence, says Prakash Gaba

Prakash Gaba of prakashgaba.com told CNBC-TV18, "Reliance Defence and Engineering is into a sideways structure. It needs a breakout if it has to come. However, for a long-term investor it doesn't matter, but one strategy that I would suggest is buying here."He further added, "If it comes down then add more. So buy 50 percent here or 33 percent and as it keeps coming down, add it. Structurally it may take its own time but once it crosses Rs 95-96 then this should be seen from a slightly longer term perspective of two-three years then buy and hold would be a right thing to do."