Buy Adani Power, says Sudarshan Sukhani

One can buy Adani Power, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Adani Power is a much better chart. It has made double bottom, a head and shoulder, a cup and handle pattern, whatever one call it. Sometimes chart pattern can be subjective and they can be interpreted in different ways. However, the message is it is bullish. Adani Group is giving signs of life; all the three charts of the company are relatively attractive. So, buy this, not just a short-term trade, it can be a position trade also."
At 10:34 hrs Adani Power was quoting at Rs 49.90, up Rs 0.25, or 0.50 percent. It has touched an intraday high of Rs 50.55 and an intraday low of Rs 49.20.
The share touched its 52-week high Rs 70 and 52-week low Rs 36.80 on 20 December, 2012 and 30 August, 2012, respectively. Currently, it is trading 28.71 percent below its 52-week high and 35.6 percent above its 52-week low. Market capitalisation stands at Rs 11,942.43 crore.