Buy Ambuja Cements; target of Rs 175.50: IIFL

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Buy Ambuja Cements; target of Rs 175.50: IIFL

IIFL is bullish on Ambuja Cements and has recommended buy rating on the stock with a target of Rs 175.50 in its February 2, 2012 research report.

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RELATED NEWS Buy Indian Bank; target of Rs 275: Unicon Investment Accumulate NTPC; tgt of Rs 182: PINC Research Accumulate Oracle Financial; tgt of Rs 2288: Sushil Finance ALSO READ See previous views by IIFL See what other Experts & Brokerages are saying about Ambuja Cements See messages about Ambuja Cements Ambuja Cements BSE | NSE 31/05/12 Are Mutual Funds betting on Ambuja Cements?

IIFL is bullish on Ambuja Cements and has recommended buy rating on the stock with a target of Rs 175.50 in its February 2, 2012 research report.

"Ambuja Cement on the daily line chart has given breakout from bullish flag pattern after flirting with resistance of Rs163 for almost last three days. The breakout was also visible on weekly chart where breakout levels stood at Rs159 and stock has been convincingly holding above same. The daily RSI has been sustaining above 55 mark which supports buying argument in the counter. We recommend buying Ambuja Cement above Rs 165.5 with stoploss of Rs 160.5 for target of Rs 175.5. (Duration 7 days)," says IIFL research report.

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