Buy RIL with a target of Rs 1100: Mohindar

Rahul Mohindar of viratechindia.com is of the view that one can buy Reliance Industries with a target of Rs 1100. Keep stop loss at Rs 1040.

Mohindar told CNBC-TV18, “In the last couple of days Reliance Industries is holding Rs 1050 mark as good support so even short term keep a stoploss below Rs 1050 so let us say Rs 1040 could work as a stoploss. The real strength comes in beyond Rs 1095 so if we clear a Rs 1095 we get into this uptrend but all in all medium to long term I would say the target for this stock is past Rs 1100 so you could be looking at Rs 1150-1200 levels which you could stretch your time frame but certainly even from a short term or a long term I would certainly say this still remains on a buy list.”