Buy Aditya Birla Nuvo; target of Rs 875: IIFL

8576 Investors following AdityaBirlaNuvo. Share this News with them.

0

Like this story, share it with millions of investors on M3

Buy Aditya Birla Nuvo; target of Rs 875: IIFL

IIFL is bullish on Aditya Birla Nuvo and has recommended buy rating on the stock with a target of Rs 875 in its May 20, 2011 research report.

Post your opinion here

 

0

Tweet

Share on Tumblr

RELATED NEWS Accumulate M&M; target of Rs 798: P Lilladher Buy Dr Reddys Labs; target of Rs 1920: Angel Broking Buy JSW Steel; target of Rs 1231: PINC Research ALSO READ See previous views by IIFL See what other Experts & Brokerages are saying about AdityaBirlaNuvo See messages about AdityaBirlaNuvo AdityaBirlaNuvo BSE | NSE 31/05/12 Are Mutual Funds betting on AdityaBirlaNuvo?

IIFL is bullish on Aditya Birla Nuvo and has recommended buy rating on the stock with a target of Rs 875 in its May 20, 2011 research report.

"Aditya Birla Nuvo has given a breakout from the downward sloping resistance line on the daily chart. Weekly line chart shows a breakout from a falling wedge pattern. Such back to back confirmation on short term and medium term chart supports our buying argument at current levels and provides better risk-reward ratio. The rally was accompanied with a positive crossover in RSI, earmarking inherent strength in the counter. Based on above observations, we recommend traders to buy the stock above Rs 850 with stop loss of Rs 840 for target of Rs 875," says IIFL research report.

Shares Pledged By Tata Group

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.

To read the full report click on the attachment