Avoid Tata Power advises Dynamix Research

Sanjeev Agarwal, CEO of Dynamix Research & Capital Management advised avoiding Tata Power. He feels there will be better opportunity.

Agarwal told CNBC-TV18, “I feel that Tata Power has been moving in a range. Lower range is somewhere around Rs 90 and the upper range is around Rs 115. I feel right now it is on a resistance zone and Rs 100-105 is an area where it is going to find very good resistance.”
“So I feel exiting in these zone will be a better idea, because overall I see a little weakness in the market. In the next 20 days, we expect market to see a lot of ground. There will be a better opportunity. Obviously you can pick this stock at much lower levels, but right now I will advise to stay away from it,” Agarwal added.