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Buy Jayshree Tea and Industries; target of Rs 203: IIFL
IIFL is bullish on Jayshree Tea and Industries and has recommended buy rating on the stock with a target of Rs 203 in its September 30, 2010 research report.
IIFL is bullish on Jayshree Tea and Industries and has recommended buy rating on the stock with a target of Rs 203 in its September 30, 2010 research report.
"Jayshree Tea and Industries had been moving sideways and in a narrow range between Rs 188-178 for two weeks after rallying sharply from Rs 147 to Rs 189. As of now, the stock is trading above its 20-DMA, which earmarks inherent strength in the counter. On Wednesday, the stock broke out from the above mentioned range after Wednesday's close above Rs 190; Stochastics signaled a positive crossover with heavy volumes, confirming the breakout on the upside. Based on above technical observations, we recommend traders to buy the stock above Rs 191 with a stop loss of Rs 185 for a target of Rs 203," says IIFL research report.
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