Kunal Bothra, Head of Advisory at LKP told CNBC-TV18, "I have been very bullish on Adani Power for the last two-three weeks and especially there was a base formation happening and good volume accumulation. The stock is taking crucial support around the moving averages in the last three-four days."
"The minor resistance is around Rs 40-41.50 level where the 200 day moving average (DMA) lies. If it crosses that, it could be in line for a target of Rs 45 with a stoploss of Rs 35," he said. Disclosure: The stock discussed may have been recommended to clients.
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