REC has target of Rs 250-260: Sukhani

Rural Electrification Corporation (REC) has target of Rs 250-260, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "REC charts are good, it found support at the Rs 200 level. It's bounced back very nicely, PFC and REC both. There is some more upside here and the good point is that if markets are soft then we can actually buy it on a dip because I see that may be Rs 250-260 is a possible target for the move. So we could buy it lower hopefully today and then wait patiently for that target to come. So it's not essentially a day trade but if you are willing to take it over the weekend I think it's good."
He further added, "I was upbeat on Dhanlaxmi Bank and that stock completely failed me by coming down. Now this up move is coming on news, you have been talking about it but whatever I am fairly upbeat on this share. At current prices it deserves a lot of attention not only for short term traders but also for somebody willing to buy banks."