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Mar 27, 2012, 11.27 AM IST
IIFL is bullish on Cummins India and has recommended buy rating on the stock with a target of Rs 485 in its March 27, 2012 research report.
IIFL is bullish on Cummins India and has recommended buy rating on the stock with a target of Rs 485 in its March 27, 2012 research report.
“Cummins India has seen impressive volumes in yesterday’s session after taking support at its 50- DMA around Rs445. On Monday, the stock advanced by over 1%, bucking the downtrend which began from the peak of Rs500 on 14th March 2012. It could bounce till somewhere between Rs485-490 levels in the near term. Based on observation of positive crossover in RSI in yesterdays trading session, it is likely that stock continue its uptrend in the short term. Traders are advised to buy the stock above Rs 467 with stop loss of Rs 459 for target of Rs 485,” says IIFL research report. FIIs holding more than 30% in Indian cos Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies 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.
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