Ahmednagar Forgings has target of Rs 165, says Akshata Deshmukh, Networth Stock Broking.
Deshmukh told CNBC-TV18, "For the last three-four weeks, Subex is giving a higher top, higher bottom kind of a formation. So there has also been a breakout wherein the 20 DMA has crossed, so fairly a strong breakout at that. Volumes have been quite good in today's trading session also. I think it is a good near-term bet where one could look at levels of around Rs 92-93 levels."
She further added, "As far as Ahmednagar Forgings is concerned, I think it is a fairly strong chart on the long-term especially because it has seen a lot of consolidation between Rs 122 and Rs 143 levels and last week there were clear signs of accumulation taking place, volumes have been on a rise. Even today I think the stock is doing fairly well for itself. I think the short-term target could be around Rs 165 levels followed by levels of Rs 192 over three-four quarters from hereon."
Disclosure: No personal holdings but recommendations to institutional clients could be there.
