Buy Power Grid Corporation of India, target Rs 230: Milan Vaishnav
Buy Power Grid Corporation of India at a price target of Rs 230 and a stop loss at Rs 202 from the entry point.
By ETMarkets.com |
Milan Vaishnav of Gemstone Equity Research has a buy call on Power Grid Corporation of India with a target price of Rs 230.
The current market price of Power Grid Corporation of India is Rs 210.10.
Time period given by the analyst is one month when Power Grid Corporation of India price can reach defined target.
Milan Vaishnav recommended to keep a stop loss at Rs 202. In a report he said, "The stock marked highs near 226 and has been trading in a corrective downward channel. It has attempted to breakout from that channel and resume the uptrend. The stock took support near the 200-DMA levels and a big Bullish Engulfing Candle has emerged. This points towards likely resumption of trend as it has occurred near a strong support area. RSI is neutral marking a higher bottom and Daily MACD is set to report a positive crossover overcoming days."
Power Grid Corporation of India, incorporated in the year 1989, is a Large Cap company (having a market cap of Rs 1,10,491.17 Crore) operating in Power sector.
The company’s top management includes Mr.I S Jha, Mr.Jagdish I Patel, Mr.K Sreekant, Mr.Manoj Kumar Mittal, Mr.Prabhakar Singh, Mr.R P Sasmal, Mr.Ravi P Singh, Mr.Tse Ten Dorji, Ms.Shalini Prasad.
Company has S K Mittal & Co. as its auditors.
As on 30-09-2017, the company has a total of 5,231,589,648 shares outstanding.
The current market price of Power Grid Corporation of India is Rs 210.10.
Time period given by the analyst is one month when Power Grid Corporation of India price can reach defined target.
Milan Vaishnav recommended to keep a stop loss at Rs 202. In a report he said, "The stock marked highs near 226 and has been trading in a corrective downward channel. It has attempted to breakout from that channel and resume the uptrend. The stock took support near the 200-DMA levels and a big Bullish Engulfing Candle has emerged. This points towards likely resumption of trend as it has occurred near a strong support area. RSI is neutral marking a higher bottom and Daily MACD is set to report a positive crossover overcoming days."
Power Grid Corporation of India, incorporated in the year 1989, is a Large Cap company (having a market cap of Rs 1,10,491.17 Crore) operating in Power sector.
The company’s top management includes Mr.I S Jha, Mr.Jagdish I Patel, Mr.K Sreekant, Mr.Manoj Kumar Mittal, Mr.Prabhakar Singh, Mr.R P Sasmal, Mr.Ravi P Singh, Mr.Tse Ten Dorji, Ms.Shalini Prasad.
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Company has S K Mittal & Co. as its auditors.
As on 30-09-2017, the company has a total of 5,231,589,648 shares outstanding.
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