Prakash Gaba of prakashgaba.com told CNBC-TV18, "Reliance Industries is still weak. There is a tiring out pattern in the upper regions. It has got more of exhaustion and has broken down level of around Rs 1280-1285 zone. RIL can slide down to Rs 1220 zones, it is still not strong."
"As far as Infosys is concerned, it is trading sideways. It is against a stiff resistance of Rs 1040 and needs to cross Rs 1040 if it has to go to Rs 1080. If it doesn’t go up, it could tire itself out here and slide down to levels closer to Rs 1000. So, maybe we could see a slide in Infosys," he said.
Disclosure: Reliance Industries owns Network 18 that publishes Moneycontrol.com.
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