Vishal Malkan of malkansview.com told CNBC-TV18, "I would use the dip to go long on Adani Power. It has come out of range and huge volumes have been seen on the breakout. This is a retracement to buy with a stoploss of around Rs 37.50-38 for a target of around Rs 44-45 in next few weeks."
On December 10, 2013 Adani Power ended at Rs 38.80, down Rs 1.80, or 4.43 percent. The share touched its 52-week high Rs 70 and 52-week low Rs 29.45 on 20 December, 2012 and 05 August, 2013, respectively. Disclosure: He has positions in UPL.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
