Buy Alstom Projects; target of Rs 732: IIFL

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Buy Alstom Projects; target of Rs 732: IIFL

IIFL is bullish on Alstom Projects and has recommended buy rating on the stock with a target of Rs 732 in its December 15, 2010 research report.

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RELATED NEWS Buy Indoco Remedies; target of Rs 750: Gupta Equities Buy Aurobindo Pharma; target of Rs 1550: Gupta Equities Buy Jaiprakash Asso; target of Rs 120: Aditya Birla Money ALSO READ See previous views by IIFL See what other Experts & Brokerages are saying about Alstom Projects See messages about Alstom Projects Alstom Projects BSE | NSE 31/05/12 Are Mutual Funds betting on Alstom Projects?

IIFL is bullish on Alstom Projects and has recommended buy rating on the stock with a target of Rs 732 in its December 15, 2010 research report.

"Alstom Projects (APIL) on the daily line chart has signaled a breakout from the descending trend line with spurt in volumes. This has brought to an end the consolidation phase in the counter and beginning of fresh up move. An upward crossover can be also seen from the short term moving averages coming above the long term average of 200 DMA. Adding to it, RSI also has been making higher tops and higher bottom which corroborate uptrend. We advise buying stock above Rs 710 with stop loss of Rs 699 for target of Rs 732," says IIFL research report.

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