Reliance Power has support at Rs 110: Bhambwani

Technical Analyst, Vijay Bhambwani is of the view that Reliance Power has support at Rs 110.

Bhambwani told CNBC-TV18, "Reliance Power has support at around Rs 110 levels. As long as it remains above Rs 110 there is a fair possibility that it could go all the way upto Rs 175 in the short to medium-term, of course market condition being conducive. I would advocate a hold at this point in time on the stock because selling out at this level does not seem to be a wise thing to do. And entering at such high levels you might as well wait for may be 3-5 quarters time frame; you are likely to get much better prices in that time frame."

Disclosure: Analyst doesn't hold the above stock.