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Buy Kalpataru Power; target of Rs 140: Aditya Birla Money
Aditya Birla Money is bullish on Kalpataru Power and has recommended buy rating on the stock with a target of Rs 140 in its March 28, 2011 research report.
Aditya Birla Money is bullish on Kalpataru Power and has recommended buy rating on the stock with a target of Rs 140 in its March 28, 2011 research report.
"A Bullish Morning Star formed in Kalpataru Power at 61.8 % retracement support indicates that the stock has found its intermediate term bottom. A breach above Rs 123 levels, would lead to a breach of falling channel confirming that the short term trend has turned up Above Rs 123, Kalpataru Power could edge higher towards Rs 145- 150 levels. Weekly stochastic has given a positive crossover adding strength to our bullish stance."
"On the monthly chart too as of now the stock has formed a Bullish Doji pattern indicating that Buying interest is creeping in. Buy Kalpataru Power initially above Rs 123 and then on dips to Rs 118 for a target of Rs 140 with stop placed below Rs 112 on closing basis," says Aditya Birla Money research report.
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