Buy Moser Baer; target of Rs 90: IndiaInfoline

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Buy Moser Baer; target of Rs 90: IndiaInfoline

IndiaInfoline is bullish on Moser Baer and has recommended buy rating on the stock with a target of Rs 90, in its December 02, 2009 research report.

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IndiaInfoline is bullish on Moser Baer and has recommended buy rating on the stock with a target of Rs 90, in its December 02, 2009 research report.

"On Tuesday, Moser Baer gave a bullish breakout by bouncing off sharply from its 200-DMA of Rs78. The immediate reaction took the stock towards the high of the day. Volumes have shown a smart increase in the past few sessions, which suggests accumulation at lower levels. A bullish candlestick on Tuesday further validates our argument of a short-term bounce in the stock. Traders can buy the stock at current levels and on declines up to the levels of Rs 81 for target of Rs 89 and Rs 90. It is advisable to maintain a stop loss of Rs 78," says IndiaInfoline research report.

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