NHPC may touch Rs 21-22, advises Shardul Kulkarni

Shardul Kulkarni of Angel Broking told CNBC-TV18, "NHPC is moving higher but my market view is negative. So I would want some more confirmation before I suggest an entry point. On the upside, the stock can cross Rs 19.20-19.30 levels, so then I would recommend that there is a trading opportunity in the stock."

"Even if the market comes down probably the stock will move higher. So that probability will open up if the stock can cross Rs 19.20, I would recommend buying above that level. The stoploss would be at Rs 18.20 and the possibility is that the stock can move towards Rs 21 and Rs 22 levels in the near future," he said. At 12:17 hrs NHPC was quoting at Rs 18.65, down Rs 0.05, or 0.27 percent. It has touched an intraday high of Rs 18.80 and an intraday low of Rs 18.60. The share touched its 52-week high Rs 29.40 and 52-week low Rs 15.25 on 20 February, 2013 and 07 August, 2013, respectively. Currently, it is trading 36.56 percent below its 52-week high and 22.3 percent above its 52-week low. Market capitalisation stands at Rs 22,940.89 crore. Disclosure: It is possible that we have positions in the stock discussed and we have recommended it to our clients.