Investment in RNRL - short term 15% gains possible

RNRL buy at current levels, stoploss 62, initial target 70, next target 77

The stock tested the levels of just above 60 in November, traded sideways for the next 3 months with the investors undecided about the future of the stock. Global financial turmoil due to happening in Greece led to lowered risk appetite towards risky investments. As the Sensex tested its 200 DMA, the stock too broke from 75 and tested the November lows. The stock could be bought at current levels with a stoploss of 62, first target would be February high which means the investors could bid the stock at levels close to 70 and if the investors still hold onto the stock the price could further enhance upto the levels of 77 which is the current year high, the rate above which the investors did not bid the stock this year uptil now.

The target of 70 could be achieved within next 5 days, return on investment turns out to be above 6%. Next target of 77 could be achieved by mid April, return on investment above 15%.