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Buy Central Bank; target of Rs 151/155: Aditya Birla Money
Aditya Birla Money is bullish on Central Bank of India and has recommended buy rating on the stock with a target of Rs 151/155 in its March 31 2011 research report.
Aditya Birla Money is bullish on Central Bank of India and has recommended buy rating on the stock with a target of Rs 151/155 in its March 31 2011 research report.
"Central Bank of India, prices tested the support of the 21-day EMA initially however pulled back and ended the session with significant gains last session. The 14-day RSI is rising above equilibrium while the MACD (12, 26, 9) is again curling up from its signal line. This shall continue to keep the short-term sentiment positive and would be supportive for gains towards the immediate resistance near Rs 147 and then Rs 151 in the forthcoming sessions."
"On the down side, prices find support at yesterday's low of Rs 136 and then at prior swing low of Rs 132. Only a definite pull back below the latter would signal the conclusion of last few weeks recovery tone and keep the sentiment weak subsequently. Buy Central Bank of India at CMP Rs 142.45 and on dips to Rs 140 with a target of Rs 151/155 and stop loss of Rs 136," says Aditya Birla Money research report.
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