IIFL is bullish on Edserv Softsystems and has recommended buy rating on the stock with a target of Rs 217, in its August 26, 2010 research report.
"Edserv Softsystems has its Market Cap Rs 2.4 billion, PE-11 broken out from a consolidating triangle on Wednesday as prices penetrated descending trendline resistance prevailing at Rs 204, which co-incides with its 100-DMA. Volumes have jumped impressively in yesterday's trading session. Positive crossover from MACD and RSI also support argument for better risk reward ratio from current levels. Based on above evidences, We recommend buying stock above Rs 205 with stop loss of Rs 200 for a target of Rs 217," says IIFL research report.
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