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Buy Gujarat Flourochemicals; target of Rs 204: IIFL
IIFL is bullish on Gujarat Flourochemicals and has recommended buy rating on the stock with a target of Rs 204 in its November 26, 2010 research report.
IIFL is bullish on Gujarat Flourochemicals and has recommended buy rating on the stock with a target of Rs 204 in its November 26, 2010 research report.
"Gujarat Flourochemicals has staged a sharp pullback from the support of its 200-DMA this week. In yesterday's session, the stock attempted to break past its 100-DMA with higher-than-average volumes. Despite the volatility in the broader indices, the stock is sustaining above the downward sloping breakout trendline, suggesting strength in the counter and any move past Rs 190 is likely to accentuate buying momentum in the near term. RSI too has bounced back from the support levels of 30 which favors risk reward ratio on the bullish side. We recommend high risk traders to buy the stock above Rs 190 with stop loss of Rs 184 for target of Rs 204," says IIFL research report.
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