Chandan Taparia positive on REC, PFC

Chandan Taparia of Anand Rathi Financial Services told CNBC-TV18, "We are positive on Rural Electrification Corporation (REC) and the Power Finance Corporation (PFC). REC recently corrected but it has made a decent base near Rs 240-250 zone. It already crossed its immediate hurdle of Rs 277 and holding the gains. Today the stock is up by 5 percent with the built up of long positions. In the last three trading sessions we have seen huge delivery volume which indicates that this rally can take stock to Rs 300 and then to Rs 320 levels."

"Looking at the momentum we are expecting it to play on the positive side. Better to stay with the 290 Call and I am expecting this call to target Rs 15 to Rs 16," he said.