Go long in Tata Power, target Rs 66: Siddarth Bhamre

Siddarth Bhamre of Angel Broking told CNBC-TV18, "Tata Power has not given any return since quite some time. In last 10 trading sessions, with huge addition of open interest in a tight range of Rs 58.50-60, I am believing that this is more of long positions at such lower levels; that is the reason I have initiated long positions in the stock. I am expecting the stock to show a sharp bounce back till Rs 66, fix a stop loss of Rs 56 and go long over here. This is high risk, high return trade." "Tata Motors DVR almost reached 80-85 percent of the price of Tata Motors and then it came down to 60 percent. It has added into index, I think there is no reason to get excited about this. It will continue to trade at 25-30 percent discount over a medium-term. So, I won’t suggest someone to get very excited about this DVR thing," he said.