Reliance Industries may cross Rs 1100, says Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Reliance Industries (RIL) has held up the market and it looks like Rs 1080-1100 will get crossed because now it is a commodity stock. Whenever commodities do well, RIL must participate. It was kind of subdued earlier but now it appears that it is kind of outperforming. So, that could be one of the stocks to look at for next week."He further added, "Petronet LNG moved sideways for a long time. Today it kind of broke away from that action. So, I think levels of Rs 500 in next couple of weeks is easily possible.""In HPCL there is four days of fairly strong downside but it is a stock which is still in a bull market. So, possibly you could see targets of Rs 570-575 next week. The risk reward here from a short term angle is pretty favourable," he said.Disclosure: Reliance Industries owns Network 18 that publishes Moneycontrol.com.