Technical Analyst, E Mathew is of the view that RPL has strong support at Rs 140-142 zone.

Mathew Told CNBC-TV18, "RPL was showing quite a lot of strength till yesterday and in this recent carnage also it went nowhere near that 22 January low. Today of course some negative news came but inspite of that, I think the stock has got very strong support at the Rs 140-142 zone. This stock has the potential now if the Nifty is in the process of consolidating and it starts moving up and if it takes the positive cues globally, then we could see Reliance Petro possibly move up to Rs 165 and beyond that even all the way upto Rs 172-175".

Disclosure: It is safe to assume that analyst & his clients may have an interest in the stocks/sectors discussed.

Source : MoneyControl

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