Reliance Industries may go upto Rs 940: Anu Jain

Anu Jain, Director-Equities of IIFL Private Wealth Management told CNBC-TV18, "In Reliance Industries (RIL) you have had one month high is lower than the three month high and not really convincing on the chart. So at those Rs 860 levels, you get support and then it bounces back so at Rs 900-905, you will have some short covering which could take you up to about Rs 940. But beyond that 3-4 percent move, there is nothing which is on the charts compelling to take up position into it."

"Relatively speaking if I had to look at the sector and pick up, Bharat Petroleum Corporation Ltd (BPCL) at these levels makes probably technically also more sense and fundamentally more sense, Castrol makes a little more sense. So I would probably look at those plays instead of looking at RIL," she said.

Disclosure: Network 18, which publishes moneycontrol.com, is now part of the Reliance Group.