According to Technical Analyst Ashwani Gujral, Reliance Energy can surely touch Rs 900. He suggests investors to hold the stock for hefty gains within few months.

Gujral told, “Hindalco remained a weak sort of metals stock and it’s probably in a range of Rs 145 to about Rs 185. Metals overall have weakened, commodity prices have taken ahead because of all of this.”

“Reliance Energy is one of the out performers and we believe that with a support of around Rs 740-750, it could head back towards Rs 900, because the power utilities are also now showing the kind of bounce that was earlier only associated with capital goods,” he added.

Reliance Energy Limited was established in 1929. It is completely integrated in the making, transmission and allocation of electricity. It grades among India’s top listed private companies on all key financial parameters comprising assets, sales, profits and market capitalization.

At present, Reliance Energy is acting on a number of gas, coal, wind and hydro-based power generation projects in Maharashtra, Uttar Pradesh, Arunachal Pradesh and Uttaranchal.