Buy REC, says Sudarshan Sukhani

Buy Rural Electrification Corporation (REC), says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "I think Rural Electrification Corporation (REC) is good for more. It seems that the bear market in REC is over. It made small base around Rs 150-170 range. It’s broken out of that base. That is a reversal pattern. So one had a decline, one had an accumulation process and now probably in the run-up phase and the prices should go significantly higher."
He further added, "So the idea is that REC could surprise today also because of the Futures & Option (F&O) dynamics but otherwise it’s a positional trade also. One could buy it and then hold on for few weeks and probably come out well."