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Monday, June 25, 2007

Target of Rs 140 "RELIANCE"

Right now Reliancepetro is on 93 which is quite a good support at the start though yesterday its on 100 for while in 2nd half..and over a period of time a medium-term target is about Rs 140 and for short-term Rs 110 seems to be a good target.
Right all the refinaries are performinng well so they can be choosen.
Technical analyst, Ashwani Gujral added "If Chennai Petroleum can stay above Rs 280, I think Rs 330 looks quite likely, the cycle seems to be turning for some of these individual refineries, and so I would like to bag the refiners."

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