Go long in Reliance Industries, says Amit Harchekar

Amit Harchekar of A PLUS Analytics told CNBC-TV18, "Reliance Industries has again given a strong reversal above 200-day exponential moving average. After correction, the stock is again moving back to its intermediate highs. In the last two days, we have seen some marginal cut of open interest. We believe that is more of a short covering and stock has a potential of going beyond Rs 1,000 in the coming days.""We are recommending going long at these levels. Maintain a stop loss of Rs 935 and since the stock is already sustaining above 200-day moving average, we are quite positive in the near-term," he said.Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com.