Buy EIH; target of Rs 142: IIFL

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Buy EIH; target of Rs 142: IIFL

IIFL is bullish on EIH and has recommended buy rating on the stock with a target of Rs 142 in its July 23, 2010 research report.

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IIFL is bullish on EIH and has recommended buy rating on the stock with a target of Rs 142 in its July 23, 2010 research report.

"Though EIH rallied this week hitting an intermediate peak of Rs 134, at present the stock is placed near the 50% retracement support of Rs 126. We expect this support area to provide as a solid base for bounce back and the stock is expected to rally towards levels of Rs 142 in the coming week. We advise buying stock in the range of Rs 126-129 with stop loss of Rs 122 for a target of Rs 142," says IIFL research report.

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To read the full report click on the attachment