Buy Power Grid Corporation of India: Amit Harchekar

Amit Harchekar of A PLUS Analytics told CNBC-TV18, "Power Grid Corporation of India has given a strong breakout above Rs 145 and most importantly on the derivative side the major long built up in Power Grid has happened with an average price of Rs 140 that also gives you a good base where lot of long accumulation has happened in the counter. The upper target comes to in the zone of Rs 165 to Rs 170 on the optimistic side."

"We believe the long positions which has accumulated at around Rs 140, that will start taking profits once the stock crosses the levels of Rs 160 to Rs 165. So from that perspective we are recommending a buy at these levels with a stoploss of Rs 142 and we are expecting a target of Rs 162 in coming days," he said.