REC may test Rs 352, says Chandan Taparia

Chandan Taparia of Anand Rathi told CNBC-TV18, "Rural Electrification Corporation (REC) did well in the last series. It has seen the build-up of long positions by more than 20 percent. The stock is moving after consolidation for last five trading sessions. On closing basis it is holding above Rs 330 from last seven trading sessions and I am expecting this stock to start the next leg of rally as the open interest data indicates. We are expecting to target towards Rs 352 and traders are suggested to keep the stoploss near Rs 329."

At 14:54 hrs Rural Electrification Corporation was quoting at Rs 339, up Rs 8.85, or 2.68 percent. It has touched an intraday high of Rs 342.50 and an intraday low of Rs 327.