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Technical Analyst, E Mathew is suggest for buying Reliance Industries between Rs 1750-1780.
Mathew told CNBC-TV18, "The fact that Reliance closed below Rs 1,970, it sends shivers down many people’s spines and today also, I am afraid that with way the SGX etc is performing. If it trades below Rs 1,930 you have a very distinct possibility of going down in the first instance to about Rs 1,850, which is not really a very good support and it could even go down to the strong support zone of around Rs 1,780- 1,750. I do feel that huge buying may emerge round about Rs 1,750-1,780 zone. I would certainly advocate thought it is something like catching the falling knife, I would certainly advocate buying into it between Rs 1,750-1,780 zone."
Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above sector.
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