Reliance close to crucial 1150 mark: Deepak Mohoni

What is your position really on Reliance ahead of numbers right now how are you playing the stock?

Deepak Mohoni : Well a little bit the bias has to be on the long side . It has had a pretty good rally for now couple of weeks but it is also coming close to that 1150 where it has tended to reverse far too many times so I think that is a bit of a look out there and even today it has come off the highs a little bit so this is now coming to the point where Reliance meets a lot of sellers.

So it is a question of whether that selling is absorbed or not. If it does get passed 1150 then I think it would be pretty good for the index because of the higher weightage and of course Reliance itself.