IIFL is bullish on Kalindee Rail Nirman and has recommended buy rating on the stock with a target of Rs 190 in its December 22, 2010 research report.
"Kalindee Rail Nirman on the daily chart has signaled breakout from inverted head and shoulder pattern on Tuesday's trading session with prices moving above the neckline resistance with expansion in the volumes. The amplitude of such pattern is currently placed at Rs 25 and hence we can expect stock price to rally towards 200 levels in the short term. On the oscillator front RSI also corroborate strong up move in the counter and with sustaining positive crossover in the short term, stage is all set to take stock much higher with better risk reward ratio. We advise buying stock at current price with stop loss of Rs 168.5 for target of Rs 190, says IIFL research report.
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