Moneycontrol
Oct 07, 2013 05:36 PM IST | Source: CNBC-TV18

Hindalco Industries may touch Rs 135: Nooresh Merani

Nooresh Merani of AMSEC Research is of the view that Hindalco Industries may touch Rs 135 in the short term till the point it holds Rs 115-114 zone.


Nooresh Merani of AMSEC Research told CNBC-TV18, "If you look at Hindalco Industries, Rs 115 to Rs 118 was a critical resistance zone over the longer term charts and it has crossed above those levels, which indicate there is a lot of momentum."

"In the short-term, we could be looking towards Rs 135 level till the point it holds Rs 115 to Rs 114 zone. So one can keep a trading stop loss at Rs 114 and look towards a target price of Rs 135 in the short-term," he added.

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