Buy Kingfisher Airlines; target of Rs 49: IIFL

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Buy Kingfisher Airlines; target of Rs 49: IIFL

IIFL is bullish on Kingfisher Airlines and has recommended buy rating on the stock with a target of Rs 49 in its April 6, 2011 research report.

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RELATED NEWS Buy Bank of India; target of Rs 505: IIFL Sell Hexaware; target of Rs 60: Aditya Birla Money Buy Sintex India; target of Rs 220: PINC Research ALSO READ See previous views by IIFL See what other Experts & Brokerages are saying about Kingfisher Air See messages about Kingfisher Air Kingfisher Air BSE | NSE 30/05/12 Are Mutual Funds betting on Kingfisher Air?

IIFL is bullish on Kingfisher Airlines and has recommended buy rating on the stock with a target of Rs 49 in its April 6, 2011 research report.

"Kingfisher Airlines had been in consolidation mode for past five weeks between the range of Rs 44-39. The consolidating pattern led to a pattern of rounded bottom on the daily chart which is a bullish structure and sustainable move past Rs 46 could see the stock attempting levels of Rs 49 in the short term. The above mentioned pattern also signals temporary bottom. The overall base-like pattern carved out by KFA during the past five weeks appears to be maturing now as the stock is holding above its 50-DMA. We advise buying the stock above Rs 46 with stop loss of Rs 44.50 for target of Rs 49," says IIFL research report.

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