Sell IOB June Future; target of Rs 135: IIFL

15120 Investors following IOB. Share this News with them.

0

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

Sell IOB June Future; target of Rs 135: IIFL

According to IIFL, traders can sell Indian Overseas Bank (IOB) June Future below Rs 140 with stop loss of Rs 142.50 for an initial target of Rs 135, in its June 13, 2011 research report.

Post your opinion here

 

0

Tweet

Share on Tumblr

RELATED NEWS Hold Aditya Birla Nuvo; target of Rs 960: Sharekhan Sell Bank of Baroda; target of Rs 837: Aditya Birla Money Accumulate Indraprastha Gas; target of Rs 400: ULJK Sec ALSO READ See previous views by IIFL See what other Experts & Brokerages are saying about IOB See messages about IOB IOB BSE | NSE 01/06/12 Are Mutual Funds betting on IOB?

According to IIFL, traders can sell Indian Overseas Bank (IOB) June Future below Rs 140 with stop loss of Rs 142.50 for an initial target of Rs 135, in its June 13, 2011 research report.

"Indian Overseas Bank (IOB) violated important support of its 100-DMA on Friday, after staging a recovery from Rs 141 on several occasions in last week of May 2011. Adding to it, the stock has been forming lower highs and lower lows from last three consecutive trading sessions, which is inherently considered as bearish pattern and could trigger sharp sell off in the counter in the near term. We advise going short on IOB June Futures below Rs 140 with stop loss of Rs 142.50 for target of Rs 135," says IIFL research report.

Public holding more than 90% in Indian cos

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