Bajaj Hindusthan can test Rs 300: Mehrab Irani

26015 Investors following Bajaj Hind. Share this News with them.

0

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

Bajaj Hindusthan can test Rs 300: Mehrab Irani

Bajaj Hindusthan can test Rs 300, says Mehrab Irani, Investment Manager at Tata Investment Corporation.

Post your opinion here

 

0

Tweet

Share on Tumblr

Excerpts from Markets Midday on CNBC-TV18 Watch the full show » ALSO READ See previous views by Mehrab Irani See what other Experts & Brokerages are saying about Bajaj Hind See messages about Bajaj Hind Bajaj Hind BSE | NSE 10/02/12 Are Mutual Funds betting on Bajaj Hind?

Bajaj Hindusthan can test Rs 300, says Mehrab Irani , Investment Manager at Tata Investment Corporation.

Irani told CNBC-TV18, "Overall, I am quite bullish on the sugar stocks. Technically if you see, Bajaj Hindusthan made a bottom of around Rs 38 in October 2008, it again tested that bottom of Rs 38 in March 2009. That was also the level if you look at away back in August 1994, 15 years back, it was the first time it had touched that level. Also during the bull market in June 2006, it had consolidated at around that level. So that was a very important level, it bounced back from there. I think a new bull market started in there from about those levels than it has consolidated between Rs 185 and Rs 220 levels over the last two weeks. I think a fresh move might be beginning and we might see target of close to Rs 300 over the next few months."