Buy REC: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can buy Rural Electrification Corporation.

Sukhani told CNBC-TV18, “REC is a buying opportunity. REC went through a correction and found support at its earlier lows. That was the first message that maybe this is bouncing back. REC is not going to go against the Nifty, that is the problem. It will outperform but that could be relative outperformance but Sun Pharma could easily go its own way while the Nifty goes down. So, REC is a buying opportunity, once the market gives sense of stability.”
Rural Electrification Corporation closed at Rs 248.90, up Rs 0.95, or 0.38%. It has touched an intraday high of Rs 252.45 and an intraday low of Rs 243.65. There were pending sell orders of 713 shares, with no buyers available. It was trading with volumes of 496,908 shares.
The share touched its 52-week high Rs 267.50 and 52-week low Rs 142.00 on 04 January, 2013 and 07 June, 2012, respectively.Currently, it is trading 6.95% below its 52-week high and 75.28% above its 52-week low.