Buy GVK Power, may rise by 20-30%: Manav Chopra

Manav Chopra of Networth Stock Broking told CNBC-TV18, "GVK Power on the weekly charts has formed a larger head and shoulder pattern and this has formed after a three to four years of decline. The stock overall has been an underperformer in the market for quite some time. GVK Power on the weekly front, has seen a lot of breakouts. The volumes have also shifted as the prices are rising higher and has closed above 200 DMA. Going forward it has a good potential to see an upside of 20-30 percent from the current level. One can buy the stock at these levels."

At 14:28 hrs GVK Power & Infrastructure was quoting at Rs 9.93, up Rs 0.63, or 6.77 percent. It has touched an intraday high of Rs 10.08 and an intraday low of Rs 9.35.