Buy IVRCL Infra between Rs 210-238: N Pillai

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Buy IVRCL Infra between Rs 210-238: N Pillai

Neppolian Pillai of Modern Shares & Stock Brokers is of the view that one can buy IVRCL Infrastructure and Projects between Rs 210-238 for a target of Rs 283-295 with placing a stoploss at Rs 208.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS IVRCL Infra Sept qtr PAT seen at Rs 40.6cr: M Oswal IVRCL Infra bags order, stk down 6.8% Buy IVRCL Infra, target of Rs 316: ICICI Securities ALSO READ See previous views by Neppolian Pillai See what other Experts & Brokerages are saying about IVRCL See messages about IVRCL IVRCL BSE | NSE 13/02/12 Are Mutual Funds betting on IVRCL?

Neppolian Pillai of Modern Shares & Stock Brokers is of the view that one can buy IVRCL Infrastructure and Projects between Rs 210-238 for a target of Rs 283-295 with placing a stoploss at Rs 208.

Pillai told CNBC-TV18, "IVRCL Infra is trading close to its major 50-month average at a current price of about Rs 238 then the second cluster of average will give it support at about Rs 210. So between Rs 238-210, I would buy for a target of Rs 283-295 with placing a stoploss at Rs 208. But most other stocks it maybe a Unitech or even the other realty stocks, they are looking absolutely battered, they have completely oversold maybe because of that you will get a bounce back but not a bounce back, which you can bet on at a higher level. So maybe there are some more pain and some more draw down left in the sector."