Buy Adani Power, says Manas Jaiswal

Nov 20, 2013, 02.18 PM IST

According to Manas Jaiswal of manasjaiswal.com, one may buy Adani Power at current level as the stock may touch Rs 38.50 in the next 2-3 trading sessions.

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Buy Adani Power, says Manas Jaiswal

According to Manas Jaiswal of manasjaiswal.com, one may buy Adani Power at current level as the stock may touch Rs 38.50 in the next 2-3 trading sessions.

Like this story, share it with millions of investors on M3

Buy Adani Power, says Manas Jaiswal

According to Manas Jaiswal of manasjaiswal.com, one may buy Adani Power at current level as the stock may touch Rs 38.50 in the next 2-3 trading sessions.

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Manas Jaiswal of manasjaiswal.com told CNBC-TV18, " Adani Power was moving very much sideways for last 3-4 months, but today it has given a triangular breakout on the daily chart. Volumes are good. So we may see a sharp recovery in Adani Power. The stock can test Rs 38.50 in next 2-3 trading sessions. One can buy the stock at current levels and keep a stoploss of Rs 34.50."

At 14:09 hrs Adani Power was quoting at Rs 36.60, up Rs 1.70, or 4.87 percent. It has touched an intraday high of Rs 36.65 and an intraday low of Rs 34.80.

The share touched its 52-week high Rs 70.00 and 52-week low Rs 29.45 on 20 December, 2012 and 05 August, 2013, respectively. Currently, it is trading 47.71 percent below its 52-week high and 24.28 percent above its 52-week low. Market capitalisation stands at Rs 10,511.23 crore.

Disclosure: He has no personal holdings in the stock discussed, but may have advised to clients.

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