IIFL is bullish on Moser Baer and has recommended buy rating on the stock with a target of Rs 73.50 in its September 8, 2010 research report.
"In Tuesday's trading session Moser Baer broke out from a symmetrical triangle formation prevailing at Rs 67 with higher than 10-days average volumes. The breakout levels of the symmetrical triangle also coincides with 100-DMA which is likely to act as a solid base for continuation of positive momentum in the counter. Daily RSI has also given a breakout from the falling resistance line which substantiates positive trend in the stock. Applying triangle projection in the near term gives immediate target of Rs 73.50. We advise buying the stock in the range of Rs 67.50- 68.50 with a stop loss of Rs 65 for target of Rs 73.50," says IIFL research report.
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