Buy National Fertilizers; target of Rs 144: IIFL

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Buy National Fertilizers; target of Rs 144: IIFL

IIFL is bullish on National Fertilizers and has recommended buy rating on the stock with a target of Rs 144 in its October 18, 2010 research report.

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IIFL is bullish on National Fertilizers and has recommended buy rating on the stock with a target of Rs 144 in its October 18, 2010 research report.

"National Fertilizers last week crossed critical hurdle of Rs 126-127 and has been able to sustain above same for second consecutive trading session. On Friday, the stock faltered around levels of Rs 133 with an indecisive candlestick appearing on the daily chart. However, the uptrend in the counter is likely to resume once upper shadow of Friday's candle, prevailing at levels of Rs 133 is taken out. RSI clearly dictating solid uptrend and we expect buying interest to intensify above the levels of Rs 133. We advise buying the stock above Rs 133 with stop loss of Rs 128 for target of Rs 144," says IIFL research report.

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To read the full report click on the attachment