Buy TataTeleservice; target of Rs 26: Aditya Birla Money

29818 Investors following TataTeleservice. Share this News with them.

0

Like this story, share it with millions of investors on M3

Buy TataTeleservice; target of Rs 26: Aditya Birla Money

Aditya Birla Money is bullish on TataTeleservice and has recommended buy rating on the stock with a target of Rs 26 in its October 11, 2010 research report.

Post your opinion here

 

0

Tweet

Share on Tumblr

ALSO READ See previous views by Aditya Birla Money See what other Experts & Brokerages are saying about TataTeleservice See messages about TataTeleservice TataTeleservice BSE | NSE 29/05/12 Are Mutual Funds betting on TataTeleservice?

Aditya Birla Money is bullish on TataTeleservice and has recommended buy rating on the stock with a target of Rs 26 in its October 11, 2010 research report.

"TataTeleservice (TTML) in June 2010 there was some change in polarity seen where for the first time post consolidation it was able to breach and trade above the mid band of the given channel. In August 2010 it has tested it upper band and has reacted from there however the reaction this time is a very measured reaction and is exhibiting a corrective characteristic. Post June 2009 highs of 41.10, TTML has been falling within the well channelized downtrend. Every time it has tested the upper band of the falling channel it has declined sharply from there. In January 2010 the selling pressure was so aggravated that it was finding difficult to trade above the mid band of the declining channel and was continuously testing the lower band of the channel."

"At CMP of Rs 23.55 it has revisited its upper band and looking at the current consolidation it looks that this time it will manage to trade above its falling channel line. We suggest buying TTML above Rs 24.10 levels with a closing Stop Loss of Rs 23, for a possible target of Rs 26 and above," says Aditya Birla Money research report.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management.Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click on the attachment