Buy Reliance Power for target of Rs 228-276: ULJK Securities

MUMBAI: Technical analyst, Praveen Kumar, ULJK Securities is bullish on Reliance Power and advises to buy the scrip with stoploss of Rs 168 for a target of Rs 228-276.

���Technically Reliance Power has given a bullish breakout on the chart. We recommend a buy on this scrip around Rs 191 levels for a target of Rs 228- 276, a gain of 45 % in medium term period. However on the lower side, stoploss of Rs 168 is strictly advisable. This stock has a solid support at Rs 174 so it would be a lower risk idea to buy on dips till Rs 174 levels incase of any fall in the short term,��� Kumar said.