Buy REC at around Rs 178: Hemen Kapadia

One can buy Rural Electrification Corporation (REC) at around Rs 178, says Hemen Kapadia, CEO of chartpundit.com.

Kapadia told CNBC-TV18, "Rural Electrification Corporation (REC) is looking solid. It is on the verge of a breakout after a 4 day consolidation phase, it has given an upward key reversal on higher volume, the mechanical indicators are signaled by, simply put REC looks like a great short term buying. One can buy REC at around Rs 178 with a stop loss of Rs 175 and a target of Rs 184. With a shorter term call valid more from am intraday point of view.