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Nov 29, 2011, 02.40 PM IST
IIFL is bullish on Karnataka Bank and has recommended buy rating on the stock with a target of Rs 87 in its November 29, 2011 research report.
IIFL is bullish on Karnataka Bank and has recommended buy rating on the stock with a target of Rs 87 in its November 29, 2011 research report.
“Karnataka Bank has given an upside breakout after consolidating in rounding bottom formation which resembles bullish structure. Also, the stock gave a close above its short-term moving averages. Breakout is also seen in daily RSI after formation of rounding bottom, this provide supplementary evidence of sustainable upmove in the counter and stock is likely to head towards Rs88 in the medium term. We advise buying the stock above Rs 81.50 with stop loss of Rs 78.50 for an immediate target of Rs 87. (Duration 5 days),” says IIFL research report. Public holding more than 90% in Indian cos Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies 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.
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