Buy Mcleod Russel on dips: Anil Manghnani

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Buy Mcleod Russel on dips: Anil Manghnani

Buy Mcleod Russel on dip of 5-7% for trading bounce, says Anil Manghnani of Modern Shares & Stock Brokers.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Anil Manghnani See what other Experts & Brokerages are saying about Mcleod Rus See messages about Mcleod Rus Mcleod BSE | NSE 01/06/12 Are Mutual Funds betting on Mcleod? Other Stocks in this news Jayshree Tea and Industries |

Buy Mcleod Russel on dip of 5-7% for trading bounce, says Anil Manghnani of Modern Shares & Stock Brokers.

Manghnani told CNBC-TV18, "Mcleod Russel (India) has given a trading breakout. It's taken out a long-term trend line which is positive for the stock. Rs 255-265 is the key resistance zone, I know it's very close to that but at least from a trading perspective every time you get a dip of 5-7% also it would be a good buy for a trading bounce, momentum is on the chart."

He further added, "The other one probably Jayshree Tea and Industries , it needs to hold Rs 160-165 range and if it can go that then probably headed to Rs 180."