JSW Energy moves across its moving averages. Likely to break above 200 dma.
JSW Energy is our long term pick. We had intiated a buy at 60 for long term investors with a target of 83 in a year in January 2017. The stock has already moved 10%. Now breaking above its monthly highs and 3 month high, the stock is moving towards its 6 months and 52 week highs of 82-85. Target likely to be hit in 3 months. Watch out for Q4 results in between.
Fundamentally the stock has suffers minor losses in last two quarters. Being positive on Indian economy JSW energy will be soon in profits and back with 8-12 EPS in 1 to 2 years. at 12 EPS and 12x PE, the stock can move to 144 in 2-3 years comfortably. Long term investors can buy now and on dips; and hold.
I am also positive and bullish on Tata Power, Adani Power, SJVN, NHPC, Torrent Power, etc for next 2-3 years.
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