Shardul Kulkarni of Angel Broking told CNBC-TV18, "The charts suggest that Rs 180 is a decent resistance level for Rural Electrification Corporation (REC). So from the current price Rs 10 upmove is quite possible but I would be really cautious of REC, PFC or any company that has lent money to the infrastructure space or the infrastructure space is the main customer base for these companies."
"I would be very cautious on these particular stocks. I think at Rs 175-180 it would be best to book out and move out of these particular counters. I see them headed lower. Over the next two months the stock can head back to Rs 250," he added. Disclosures: It is possible that we have positions in the stock discussed and we have recommended to our clients.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
