Avoid power stocks as of now: Rajat Bose

Rajat Bose, rajatkbose.com (Technical Check) in a chat with ET Now talks about Tata Power and power stocks.

What is the call on Tata Power?

I would not just say Tata Power, I would say avoid power stocks as of now because they are mostly range bound volatile counters, well suited for positional traders but for investors, they are not offering any great opportunities as such. So maybe at lower levels the consolidation happens and after that there is major breakout. So you take not just Tata Power, you take NTPC.

It is not doing anything great as such or even CESC. Sometimes it flairs up but after that again, it also tapers off that way. So my point is that other than traders, for investors, power sector as such is not a great opportunity to be in and from a trader’s point of view, unless of course the day’s low is broken, then Tata Power can perk up to something like 1055 to about 1058 but whether it trades above that or not, that is the moot point.