Jai Bala of cashthechaos.com told CNBC-TV18, "Reliance Industries has been a bit of a disappointment. I had expected the stock to stay stronger than what it has actually done in terms of price action. I would say it’s a bit of a disappointment, so I do not think it's going to lead the market at this point in time, but Tata Steel seems to be putting in some sort of a pace and it could very well go back to the 52-week highs around Rs 530 odd level that it saw few months ago. So that could be leading the market.”
He further added, “Infosys being market leader in the month of August, it was staying at about Rs 3,600-3,700 and we saw Rs 3,900 coming through in the month of August. I think Infosys still has got some steam left although I would say this is not a point where one should create fresh longs but I am a bit reluctant to talk about TCS. The structure for the stock isn’t that encouraging but Infosys and Tata Steel would be the leader from the frontline stocks.”
Disclosure: Network 18, which publishes moneycontrol.com, is now part of the Reliance Group
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