Anil Singhvi says REC is ready to make a big move today, know levels to enter and target price
Zee Business Managing Editor Anil Singhvi today has said that, apart from the IT sector, there should be some focus on the Power sector too. There could be some development in the Power sector as the cabinet meeting is scheduled for today afternoon to give it a boost. Anil Singhvi said focus should be kept on REC for a good move from current levels.
Zee Business Managing Editor Anil Singhvi today has said that, apart from the IT sector, there should be some focus on the Power sector too. There could be some development in the Power sector as the cabinet meeting is scheduled for today afternoon to give it a boost. Anil Singhvi said focus should be kept on REC for a good move from current levels. REC share price today is Rs 150, up Rs 2.3 or 1.6%.
The Market Guru recommends buy on REC. He said that last week Zee Business did an Exclusive story highlighting that REC – PFC merger will not happen which will be beneficial to REC. REC and PFC can perform much better when functioning individually.
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Singhvi said REC Board is going to meet today and they are going to discuss interim Dividend as well. Singhvi said that Cabinet meeting is going to discuss whether power companies can export their coal, and go ahead will help companies like Reliance Power and some others as they can export coal. Also, companies which would have financed such Power companies will gain going forward.
Singhvi said that the target on REC is Rs 150, Rs 155 and Rs 160 with stop loss of Rs 140. The stop loss should be revised to Rs 145 after the first target is reached.
Shubham Agarwal said that he had given a target of Rs 142 on PFC and targets of Rs 158 – Rs 160 on REC. Both stocks are looking attractive at current levels and should be bought.
The Nifty witnessed consolidation above a falling trendline on the daily chart for one more day. Towards the end of the session, however, the index saw a fresh round of buying. The hourly as well as daily momentum indicators are starting a new cycle on the upside from their respective equilibrium lines. The hourly Bollinger Bands are about to expand after contracting, which suggests that a trending move can develop and looking at the overall structure, we expect a move to form on the upside. Thus, the index looks set to test the swing high of 15273 with potential to head towards the all-time high of 15431. On the other hand, the support zone now shifts a bit higher to 14860-14900.
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