Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
Sudarshan Sukhani of s2analytics.com advises to exit from NHPC around Rs 22.
Sukhani told CNBC-TV18, “Go short in National Hydroelectric Power Corporation (NHPC). We have seen how NHPC has been falling relentlessly. A small upswing is considered to be a relief rally rather than the real thing. So, this relief rally is likely to face resistance at Rs 22 which is very near the current levels. Sell this stock at this level and expect a move all the way down to Rs 20 again.”
On April 11, NHPC closed at Rs 21.60, down Rs 0.20, or 0.92 percent. It has touched an intraday high of Rs 22 and an intraday low of Rs 21.50.