Exit Religare Enterprises around Rs 100, says Mitessh Thakkar

Mitessh Thakkar of mitesshthakkar.com told CNBC-TV18, "In Religare Enterprises I think the best strategy could be to look for what is the best exit point. I think in the last nine months the stock has fallen from Rs 260 to now at Rs 84 which is about two third value erosion."

He further added, "I think on the upside, anywhere close to about Rs 100-105 would be a tough level for the stock to get past. It is quite oversold, so there could be a bounce back of around 20 percent after having seen a decline of around 66 percent. So around Rs 100 one should just exit and possibly move into something better."