Reliance Industries may test Rs 1700 in 9-12 months: Jai Bala

Jai Bala of 1857 Advisors told CNBC-TV18, "I think Reliance Industries is doing very significant price movements at this point of time. I am looking at something like Rs 1700 for Reliance over a period of next 9-12 months. So, it is still a bargain for me.""I would wait for the stock to close above Rs 1100 and then I would look at buying pullbacks or start nibbling in. That is an insurance for me to tell me that the stock isn’t heading lower and it is taking leadership of the whole market and it is going to take the market to much higher levels than we are anticipating," he said.Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com.