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Jul 21, 2010, 03.22 PM IST
IIFL is bullish on Adani Enterprises and has recommended buy rating on the stock with a target of Rs 570 in its July 21, 2010 research report.
IIFL is bullish on Adani Enterprises and has recommended buy rating on the stock with a target of Rs 570 in its July 21, 2010 research report.
“Adani Enterprises has been moving sideways and in a narrow range of Rs 530-Rs 548 with the support of its 100-DMA for almost six weeks after rallying sharply from Rs 446 to Rs 600. RSI and oscillators has signaled a positive crossover. This confirmation is likely to trigger positive momentum in coming days. Recent trading activity denotes a steady accumulation phase where prices have almost traded flat but buying volumes have been up sharply. Based on above observations, we recommend high risk traders to buy the stock above Rs 546 with stop loss of Rs 538 for target of Rs 570,” says IIFL research report. Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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