SP Tulsian positive on Tata Power

Tulsian told CNBC-TV18, “I am keeping my positive view on Tata Power, yesterday also we have discussed or maybe day before when I have said that I am infact seeing the stock as quite a resilient if you take a technical call amongst all the power generation stocks and maybe a level of Rs 97-98 looks to be a good support.”

He further added, “We have seen that yesterday because partly maybe because of the short covering the stock has moved up but whenever inspite of such a bad news, we are not seeing the stock correcting much. Infact this kind of trend has been witnessed in last four-five months when we have seen two quarterly results which have not been very good but the stock has been holding a level of maybe about Rs 95-96. So keeping a positive stance from a trading point of view though overall my view on a fundamental basis on all the power generation companies is cautious to negative but on a technical basis, I am keeping a positive stance on Tata Power.”