7944 Investors following OnMobile Global. Share this News with them.
0
Like this story, share it with millions of investors on M3
Sell OnMobile Global; target of Rs 230: Aditya Birla Money
Aditya Birla Money is bearish on OnMobile Global and has recommended sell rating on the stock with a target of Rs 230 in its March 23, 2011 research report.
Aditya Birla Money is bearish on OnMobile Global and has recommended sell rating on the stock with a target of Rs 230 in its March 23, 2011 research report.
"OnMobile Global rallied significantly over the last few weeks however is showing some signs of exhaustion over the last few sessions. The 14-day RSI is turning down near the overbought territory while the Stochastic (14/3/3) is turning mixed after making a bearish crossover within the same. This could lead to a minor downside correction which finds immediate support at Rs 240 and then at the 21-day EMA near 229 in the short-run."
"On the higher side, Rs 255/265 zone (formed by confluence of short and intermediate-term channel bands and 100-day EMA) acts as important resistance zone. Only a convincing close above it could resume the prevailing positive tone negating the expected correction Sell ONMOBILE initially below Rs 244 and then on any rise to Rs 248 with a target of Rs 230 and a closing stop of Rs 255," 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.
