Buy PFC, GVK Power: Jitendra Panda

Panda told CNBC-TV18, “I would recommend the power sector. We are seeing PFC doing very well and it has been doing in the last 2-3 weeks ups and down in the power sector. So one recommendation is on PFC at current market price, keep Rs 184 as a stop loss. We have seen around 4 lakh plus open interest increasing so we should see a target of Rs 194- 196 levels very soon. So that is the target I would like to place on and already slightly up but then we believe the sector is showing some strength.”

He further added, “Along with that I would have recommended another similar stock GVK Power which I have been recommending for quite some time and still continue to be bullish. Keep Rs 15 as a stoploss and Rs 16.50 where the market area has seen resistance for this could be the target level and today also we are seeing good open interest increasing on long side so these are the two stocks which look positive.”