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Feb 04, 2013, 11.56 AM IST | Source: Moneycontrol.com

Buy Power Grid Corp above Rs 112.25; target Rs 117.25: IIFL

IIFL is bullish on Power Grid Corporation of India and has recommended to buy the stock above Rs 112.25 with a stop loss of Rs 109.75 for the target of Rs 117.25, in its February 4, 2013 research report.

IIFL is bullish on Power Grid Corporation of India and has recommended to buy the stock above Rs 112.25 with a stop loss of Rs 109.75 for the target of Rs 117.25, in its February 4, 2013 research report.

Powergrid Corporation on the daily has been consolidating in the ‘ending diagonal’ since beginning of January 2013 and currently downside momentum is coming to a stand still. However, for trend reversal confirmation prices needs to move above Rs112.25 for breakout from descending trend line. Adding to it daily RSI has been showing positive divergence which also supports buying argument in the counter. (Duration 12 days),"  says IIFL research report.

Bodies Corporate holding more than 50% in Indian cos

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