Have a hold on GVK Power: Sameer Shetye, AK Stockmart

Sameer Shetye, Derivatives & Technical Analyst, AK Stockmart in a chat with ET Now talks about GVK Power.

What should one do with GVK Power?

We have a look at GVK right. From the tops of 51.50, the stock gave a crack up to 42 levels. It retraced almost 61.8% of its entire losses and it is currently quoting at 48 levels. Should this consolidate at roundabout 48, it can well trace the top of 51.5. So yes I have a hold on this stock at close to current levels and the stock can well test 50 and then 51.5 levels in the near term.