IIFL is bullish on Dwarikesh Sugar Industries and has recommended buy rating on the stock with a target of Rs 83 in its July 12, 2010 research report.
"Dwarikesh Sugar Industries has seen a swift decline from the multiple resistance levels of Rs123-126 in February 2010 to a low of Rs 47. Since then, the stock has gradually moved higher retracing some of its losses. Friday's upmove is very encouraging and could potentially lead to a fresh uptrend in the near term. Every indicator study has generated multiple positive divergences. The stock has strong support around Rs 72. A rally from current levels can see the stock test the levels of Rs 85 in the shortterm. We recommend traders to buy the stock above Rs 76.50 with a stop loss of Rs 73 for target of Rs 83," says IIFL research report.
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