R Power could be headed for 190 levels: Vinith Jain, Siddh Capital

Vinith Jain, Director, Siddh Capital, in a chat with ET Now talks about R Power.

What exactly do you see in R Power in terms of the pricing activity seen in the stock?

R Power is one of the stocks which is looking to come out of its long bearish trend. The stock has been trending in range of 30 points for last 6-7 months and the recent bottom in the month of May at 138 seems to be a sharp good reversal pattern and the stock could be headed for 190. One should be looking to buy the stock with a stop of below 142. Initial resistance is seen around 160-165.