IIFL is bullish on Gitanjali Gems and has recommended buy rating on the stock with a target of Rs 327 in its August 30, 2011 research report.
"Gitanjali Gems has given a breakout from rectangular band of Rs294-312 yesterday with impressive volumes, which has turned the short term trend to positive. The immediate projection on the upside is seen at Rs328 based on the concept of range breakout. The volumes have gone up during the breakout which supports the buying argument in the counter and any pullback to restest the support line of its 50-DMA placed at Rs 305, which should be used as a buying opportunity. We advise buying the stock above Rs 315 with stop loss of Rs 309 for target of Rs 327. (Duration 4 days)," says IIFL research report.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
