Buy PFC, target Rs 150: Prabhudas Lilladher

Vaishali Parekh of Prabhudas Lilladher has a buy call on Power Finance Corporation Ltd. with a target price of Rs 150. The current market price of Power Finance Corporation Ltd. is Rs 131.5 Time period given by analyst is week when Power Finance Corporation Ltd. price can reach defined target.

The stock has made a decent correction from 168 to 124 levels and from there on it has made a hockey stick like pattern formation in the daily chart indicating a pull back recovery along with rising RSI indicator. We anticipate further upward move and expect some more buoyancy to take the stock to 150 and above levels. Vaishali Parekh recommends a buy in this stock for an upside target of 150 keeping a stop loss of 120.