Feb 08, 2012, 02.37 PM | Source: Moneycontrol.com
IIFL is bullish on Syndicate Bank and has recommended buy rating on the stock with a target of Rs 114 in its February 8, 2012 research report.
, IIFL |
“Syndicate Bank has entered into a bull phase after stock regained its control over the 200-DMA with impressive volumes and delivery based buying. However, Prior to yesterday’s session, the stock had been flirting with bearish resistance line of Rs104. So, a range bound trade between Rs104-107 could prevail for few more days. Technical charts are appearing interesting from a medium term view and any corrections should be used as entry points. We recommend traders to buy the stock above Rs 106 with stop loss of Rs 102 for target of Rs 114. (Duration 5 days),” says IIFL research report.
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