Go long on GAIL; target 520-525
We have been maintaining a very bullish outlook on GAIL for sometime and it is one of the more stable stocks that has been pretty much trending upwards. Its current level is quite a good entry point, One can go long on GAIL for targets around 520-525 on the upside.
Buy RIL ; target of Rs 1100
The stock Reliance Industries Ltd. is bullish on market and has recommended buy rating on the stock with a target of Rs 1100. Reliance Industries (RIL) indicated an IRR of 17-18% at long-term gas price of USD 6/mmbtu, Pioneer’s guidance implies an IRR of 3% for RIL. We feel RIL is taking small steps towards becoming a significantly larger player in the US shale-gas market. For the moment, we find the JV with Pioneer value-neutral. We retain our buy rating on RIL with a target price of Rs 1200 per share.
Bullish on oil stocks:
From fresh sentiment that the risk reward will not be very respectable in this stock, its must be pure momentum play. May you enter and exit, whatever 5%-7% gains are there but then otherwise I do not see a technical trade here now.
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