Go long in REC, advises Manas Jaiswal

Manas Jaiswal of manasjaiswal.com recommends going long in Rural Electrification Corporation as the stock can test Rs 308.

Manas Jaiswal of manasjaiswal.com told CNBC-TV18, " Rural Electrification Corporation (REC) has taken support near to Rs 240 and today it has broken the 50 days moving average. Couple of days ago it reached 200 days moving average also and it has some resistance near to Rs 290."

"Looking at the pattern, it can breach that level also and one can go long at current levels. The stock can test Rs 308 which is 15 percent retracement level of entire fall from Rs 383-233 with the stoploss of Rs 280," he added.

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