Accumulate NTPC at Rs 215-225
Sushil Kedia, Head- Institutional Equities, K&A Securities suggests that one can accumulate NTPC at Rs 215-225. One needs to venture out and be a contrarion buyer, may find prices close to the Rs 215-220 area. It is not looking likely will be in a hurry to make a new high very soon.
Kedia told CNBC-TV18, “NTPC has been one stock, which has had seen a sustained meltdown even before the last three days of market regime. I think it has had its fair share of corrective pattern so far. One needs to venture out and be a contrarion buyer, we may find prices close to the Rs 215-220 area. It is not looking likely will be in a hurry to make a new high very soon. But on a trading timeframe, on a decent rally trade one can start accumulating it at Rs 215-220-225, perhaps keeping a stoploss at 210 and it could easily go back to 218 in January.”
He further added, “In Neyveli at around Rs 195 a good buy trade may come. A bounce before that 8-10% along with the rest of the high beta stocks jumping over the next three-four days I think it is still good an opportunity to look at some exits on this.”
