Buy Educomp Solutions; target of Rs 425: IIFL

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Buy Educomp Solutions; target of Rs 425: IIFL

IIFL is bullish on Educomp Solutions and has recommended buy rating on the stock with a target of Rs 425 in its July 5, 2011 research report.

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IIFL is bullish on Educomp Solutions and has recommended buy rating on the stock with a target of Rs 425 in its July 5, 2011 research report.

"Educomp on the daily chart has generated trend reversal after formation of 'falling wedge' and close above Rs 401 with good volumes. The stock has already went through correction phase from Rs 493 to a low of Rs 382 and after formation of 'falling wedge' the stage is set for prices to bounce back towards Rs430 in the medium term. A positive crossover on daily RSI and a breakout from rounding bottom formation reinforces strength in the counter. We advise buying the stock above Rs 409 with stop loss of Rs 403 for target of Rs 425," says IIFL research report.

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