Gaurav Bissa of LKP Securities told CNBC-TV18 that Adani Ports has given a short-term break out of about Rs 340 odd level. The stock has a tendency of respecting its breakout levels. The earlier breakout level was Rs 320 and on multiple occasions, it has actually bounced back from those levels. It has been holding Rs 340 quite well though it has been failing to capitalise this momentum into a fresh swing high around Rs 355-360.”
“I feel that this time around, we might again see those levels coming into the stock. So I recommend going long for targets of Rs 360. The stop loss can be Rs 340,” he said. Disclosure: Analyst has no personal holdings in the stock but it is possible that he may have recommended it to his clients at LKP.
