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Technically Speaking - Neyveli Lignite

Technical Analyst, Hitendra Vasudeo told CNBC-TV18 that one can buy Neyveli Lignite on correction for long term. He thinks resistant point for the stock would be around Rs 157-178 and Rs 201. But he is not very sure about sustanability of the stock at the higher levels. So in his opinion, the short term strategy should be to maintain a stoploss at Rs 125 and book profit at the higher levels.Although he thinks the stock may take some time to cross the pull back levels, so investor with long investment horizon should try to buy at corrections.
Rajesh Agarwal of CD Equisearch thinks positively about Neyveli Lignite and thinks one should stay invested in it. While speaking to CNBC-TV18 he expresses his optimism about power sector in general and Neyveli Lignite in specific. Given the power generation capcity and the lignite mines the copmapy possess, he thinks the company has a bright future. With the current correction he thinks now one can hold the stock to get a 30-40% return with in six months.
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