Buy Tata Chemicals; target of Rs 335: IIFL

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Buy Tata Chemicals; target of Rs 335: IIFL

IIFL is bullish on Tata Chemicals and has recommended buy rating on the stock with a target of Rs 335 in its September 28, 2011 research report.

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RELATED NEWS Buy Godrej Industries; target of Rs 240: Nirmal Bang Buy Dish TV India; target of Rs 96.80: Microsec Buy Dr Reddys Labs; target of Rs 1787: KRChoksey ALSO READ See previous views by IIFL See what other Experts & Brokerages are saying about Tata Chemicals See messages about Tata Chemicals Tata Chemicals BSE | NSE 31/05/12 Are Mutual Funds betting on Tata Chemicals?

IIFL is bullish on Tata Chemicals and has recommended buy rating on the stock with a target of Rs 335 in its September 28, 2011 research report.

"Tata Chemicals (On the daily chart) has formed a morning star pattern which is a bullish trend reversal pattern after long extended decline. The daily prices have also been taking shape of a 'ending diagonal' which sign of bottoming out. The RSI is indicating a positive crossover with triple bottom formation which supports buying argument in the counter. We recommend buying Tata Chemicals in the range of Rs 322-323 with stop loss of Rs 317 for target of Rs 335.( Duration 7 days)", says IIFL research report.

FIIs holding more than 30% in Indian cos

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