Hold REC, target of Rs 230-240: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one should hold REC, the stock can touch Rs 230-240. He also added, Reliance Industries has a lot of resistance in the Rs 850-900.

Sukhani told CNBC-TV18, “One should hold Rural Electrification Corporation. It is now breaking out of a trading range and that should give us a target of Rs 230-240. It’s difficult to say when this target will come, but perhaps in October itself.” He further added, “Reliance Industries has a lot of resistance in the Rs 850-900 area. So I would advise that whenever one feels the opportunity should exit this trade. There is no hurry, because my own sense is that the markets are moving up, so let’s say in the next 15-20 days or a month the Nifty could be much higher and whatever the price of Reliance is at that time one should get out.” “One should not add on Kingfisher Airlines at current levels or at any level.”