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Buy Financial Tech; target of Rs 930: Aditya Birla Money
Aditya Birla Money is bullish on Financial Tech and has recommended buy rating on the stock with a target of Rs 930 in its June 30, 2011 research report.
Aditya Birla Money is bullish on Financial Tech and has recommended buy rating on the stock with a target of Rs 930 in its June 30, 2011 research report.
"Financial Tech, with the sideways price action of last 7 months, FT seems to have been forming a probable Inverse Head and Shoulder pattern. With yesterdays strong up move, the stock has breached its falling trend line of the last 11 weeks. Bullish Belt Hold pattern formed yesterday indicates further up move likely towards Rs 930 levels."
"A breach of the neckline of inverse head and shoulder pattern placed at Rs 930 would confirm further positivity towards Rs 1100 levels. Weekly momentum has given a positive crossover from oversold zone adding strength to our bullish stance. Buy Financial Tech at CMP Rs 873 and on dips to Rs 860 for a target of Rs 930 with stop placed below Rs 840 on closing basis," says Aditya Birla Money research report.
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