Top power stocks to buy: REC, Power Grid, NTPC and PTC India - know triggers powering these hot shares; analyst gives full outlook on price, key details
Stocks to Buy - REC - Jain said that at the current levels, there appears an upside of another 10-15 per cent in this stock. This stock was trading around Rs 163.75 at 2:40 pm on NSE. This stock attained an intraday high of Rs 167.80 which is also its 52-week high level. He puts a target price of Rs 180. The breakout level of Rs 155 should be taken as a stop loss he said
Power stocks are in the action and there are certain stocks like REC Limited, Power Grid Corporation of India which have been seeing good rally over the last two trading sessions. These two stocks have seen a multiple-month breakout, Technical Analyst Nilesh Jain, who is Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking said. There are a few other which are also poised to do well from the current levels, he said. This is what he says.
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Stocks to Buy – REC – Jain said that at the current levels, there appears an upside of another 10-15 per cent in this stock. This stock was trading around Rs 163.75 at 2:40 pm on NSE. This stock attained an intraday high of Rs 167.80 which is also its 52-week high level. He puts a target price of Rs 180. The breakout level of Rs 155 should be taken as a stop loss he said.
Stocks to Buy – Power Grid – Jain said that at the current levels, there appears an upside of another 10-15 per cent even in this stock. This stock was trading around Rs 240.50 around 2:40 pm on the NSE. It attained an intraday high of Rs 244.50 which is also its 52-week high. It has come out of a 4-month consolidation, he said. He puts the target price between Rs 260 and Rs 270 while the stop loss at Rs 235.
Stocks to Buy – NTPC – Jain said that NTPC was another stock, which is expected to do well on a positional term basis. Though this counter has already moved some distance, there is still some upside left in it, he said. He advised buy on dips. This stock was trading around Rs 117.90 around this time, gaining almost 1.5 per cent. It also achieved a 52-week high of Rs 121 today. He puts the target price at Rs 140 while the stop loss at Rs 110.
Stocks to Buy – PTC India – Another stock from the power sector, the AVP is bullish on. This stock was trading at Rs 94, closing in to its all-time high of Rs 101.10, it achieved on 18 May 2021. His advice to investors is to buy this stock on decline. He pits the target price at R 110 while the stop loss 93.
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