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Buy Bharat Electronics; tgt of Rs 1960: Aditya Birla Money
Aditya Birla Money is bullish on Bharat Electronics and has recommended buy rating on the stock with a target of Rs 1960 in its September 16, 2010 research report.
Aditya Birla Money is bullish on Bharat Electronics and has recommended buy rating on the stock with a target of Rs 1960 in its September 16, 2010 research report.
"Bharat Electronics (BEL) holding the short term demand line and multiple moving averages support has very recently breached the supply line on good volumes. These possibly suggest the change in polarity for the stock from the current downtrend to a possible uptrend. Inverted head and Shoulder Pattern are bullish trend reversal pattern which indicates post breakout the possible target for the scrip should be nothing less than the depth of the pattern, which gives us a minimum target of Rs 1960 for the scrip. We suggest buying BEL above yesterdays high of Rs 1830 with a closing stop-loss of Rs 1770 for a possible target of Rs 1960 levels," says Aditya Birla Money research report.
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