SP Tulsian of sptulsian.com told CNBC-TV18, "CESC has been holding good and the continuous upward momentum, in fact one can call it as an informed buying or maybe the technical grip but after Q3 numbers; Q3 is always seasonable for the company, so one can say that on a sequential basis things were dull but if you take a year-on-year (YoY) call, I do not think that there was any kind of reason, post that we have seen the stock getting corrected, it has already corrected – it use to rule at Rs 455, corrected to a level of Rs 430. But for the last two days the stock has almost bottomed out and this is pure a technical call though yesterday we have seen the power stocks coming back in the focus – Tata Power Company, Adani Power but I always have been holding CESC as the best amongst the power stocks.”
“For the last two days whatever correction has to happen has happened, weak hands have exited the stock and there are some stocks like Bharat Forge, CESC, Arvind, Voltas, Crompton Greaves have good technical and also Motherson Sumi Systems though it is not in Futures and Options (F&O) space but Motherson also because that shows a lot of volatility which can get picked up by the traders. So, things are looking good for CESC now and I am expecting that I won’t be surprise to see the share again moving back to Rs 450 in this series,” he added.
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