Power Grid may test Rs 139: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com told CNBC-TV18, "Power Grid has already corrected almost Rs 20 in last four weeks but now the stock has taken support near 200 day moving average (DMA). It has broken an intraday resistance with Rs 134 with higher volumes. So we may see further recovery. It can test Rs 139 which is its 50 day moving average (DMA). So that is our target and stoploss should be Rs 131."

At 14:41 hrs Power Grid Corporation of India was quoting at Rs 135.00, up Rs 3.35, or 2.54 percent. It has touched an intraday high of Rs 135.40 and an intraday low of Rs 130.85.