Siddh Capital recommends 'buy' on Rel Power with a stop loss of 139

In an interview with ET Now, Vinith Jain, Director, Siddh Capital, talked about Reliance Infra stocks future. Excerpts:

Looking at what the company is doing, Reliance Infra will focus on infrastructure, Reliance Power get the entire power generation in due course, that is the changes that they are looking at. Also with the entire gas allocation hanging fire so far despite the positive developments, what is your call on both these counters?

Reliance Infra looks good. The stock has formed multiple support at 950 levels since July last year. 950 has been holding on for a very long time. The stock is showing some signs of bullishness right now and some initial resistance around 1070 or something and we might see the stock move up to 1250. Reliance Power also looks good. One can trade long here, can buy this stock at current levels with a stop loss of 139, can look for target up to 190.