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Jul 12, 2012, 08.23 AM IST
Anil Manghnani, Modern Shares & Stock Brokers is of the view that PTC India can touch Rs 70-74.
Anil Manghnani, Modern Shares & Stock Brokers is of the view that PTC India can touch Rs 70-74.
Manghnani told CNBC-TV18, "I have been saying for the last week or so that power stocks are breaking out. Last week I gave Reliance Power, so this week I have gone with PTC although I am not a big fan of buying breakouts but now the market has rallied by in excess of 500 points, so you have to look at stocks that are breaking out or since everything has moved, you are going to be buying higher itself." He further added, "PTC is a stock that although has moved, its really beaten down and still has a long way to pullback. So I think with a stoploss of Rs 59 which is the 20 DMA the upper levels that are still to be achieved in this move are Rs 70 and then Rs 74."
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