Adani Power can go to Rs 114: Bhambwani

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Adani Power can go to Rs 114: Bhambwani

Technical Analyst, Vijay Bhambwani is of the view that Adani Power can go to Rs 114 to maybe even Rs 118.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by Vijay Bhambwani See what other Experts & Brokerages are saying about Adani Power See messages about Adani Power Adani Power BSE | NSE 10/02/12 Are Mutual Funds betting on Adani Power?

Technical Analyst, Vijay Bhambwani is of the view that Adani Power can go to Rs 114 to maybe even Rs 118.

Bhambwani told CNBC-TV18, "I am bullish on the entire power sector. I think if you were to construct a core portfolio and make a blueprint for the upcoming rally which would come in the second half of this year, power would remain a good favourite."

He further added, "As far as Adani is concerned, it is slightly more in the limelight where momentum is concerned as compared to National Hydroelectric Power Corporation (NHPC). I do think Adani should make a base at Rs 101-102 for the absolute short-term although Rs 94-95 would be for a swing trader. On the upside if the market holds up, if you see a positive to neutral overseas cues and the local markets too manage to make some more headroom, Adani can go to Rs 114 to maybe even Rs 118 in the coming few sessions."