Sell REC with target of 204: Thununguntla

Sell REC with a day target price of 204, says Jagannadham Thununguntla of SMC Global.

Thununguntla told CNBC-TV18, "Sell REC with a day target price of 204. We are bullish on the stock both in the medium to long term and the short term. However, looking at the F&O expiry and the recent pressure after the credit policy of RBI the pick has been selected for the day target price on the short side with a day target price of Rs 204."