REC can move to Rs 210-212: Kunal Bothra

Rural Electrification Corporation (REC) can move to Rs 210-212, says Kunal Bothra, Sr Technical Analyst, LKP.

Bothra told CNBC-TV18, "I would go with the momentum of the market. I think till the time we float above 5150-5155 level I would probably initiate long trades looking at the momentum in the stocks. So I think something like DLF, IVRCL, HDIL on the infra side look extremely good. So anyone who is probably entering into the market now can look at a target of 5-7% for one week period from hereon."
He further added, "Some of the other stocks which are showing some very interesting chart patterns is something like REC. Yesterday it had a very significant momentum, but today it’s seeing some sort of correction. But I believe that the momentum would continue on the upside. So once it breaks Rs 202 on closing you might see the stock heading to Rs 210-212 levels from here."