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Buy Jayshree Tea and Industries: Aditya Birla Money
Aditya Birla Money is bullish on Jayshree Tea and Industries and has recommended buy rating on the stock with a short term target of Rs 208/210 in its September 20, 2010 research report.
Aditya Birla Money is bullish on Jayshree Tea and Industries and has recommended buy rating on the stock with a short term target of Rs 208/210 in its September 20, 2010 research report.
"Jayshree Tea and Industries has signalled breakout from rounding bottom reversal pattern on the weekly chart which is a long term bullish structure. After long consolidation period, the stock turned from bearish bias to bullish bias with steady volumes. This indicates one should accumulate the stock at current levels for medium term to long term gains. At the same time, the stock has given a clear break out from the head and shoulder bottom reversal pattern with heavy volumes on the monthly chart suggesting that the stock is likely to trigger an upside target of Rs 263 levels. The neckline support is placed at Rs 139 levels. The 52 week high is Rs 416.45 and low is Rs 147.30."
"We suggest traders to buy the stock above Rs 184 with a stop loss placed at Rs 172 for a short-term delivery target of Rs 208/210 levels. Long term traders are advised to accumulate the stock at current levels for a possible target of Rs 263 levels with Stoploss of Rs 139 levels," says Aditya Birla Money research report.
Disclaimer: The views and investment tips expressed by investment experts 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.
