Buy Rolta India; target of Rs 149: IIFL

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Buy Rolta India; target of Rs 149: IIFL

IIFL is bullish on Rolta India and has recommended buy rating on the stock with a target of Rs 149 in its June 9, 2011 research report.

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RELATED NEWS Buy Praj Industries; target of Rs 97: KRChoksey Buy JOCIL; target of Rs 445: Sushil Finance Buy PVR; target of Rs 130: KRChoksey ALSO READ See previous views by IIFL See what other Experts & Brokerages are saying about Rolta See messages about Rolta Rolta BSE | NSE 31/05/12 Are Mutual Funds betting on Rolta?

IIFL is bullish on Rolta India and has recommended buy rating on the stock with a target of Rs 149 in its June 9, 2011 research report.

"Rolta India has signaled a breakout above its 100-DMA in Wednesday's trading session, thus terminating its medium term down trend. Prior to move above its 100-DMA, stock consolidated in the triangle formation and thereafter was followed with up tick in volumes. A bullish crossover can also be seen in daily RSI. The immediate upside potential for the stock is seen at Rs 157 which intermediate top was made in April 2011, above that it could hit the levels of Rs 162. We advise buying the stock above Rs 143 with stop loss of Rs 140 for target of Rs 149," says IIFL research report.

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