Buy Walchandnagar Industries: Kulkarni

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Buy Walchandnagar Industries: Kulkarni

Buy Walchandnagar Industries, says Shardul Kulkarni, Technical Analyst at Angel Broking.

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Excerpts from Markets Midday on CNBC-TV18 Watch the full show » RELATED NEWS Walchandnagar Ind has target of Rs 249: Thacker ALSO READ See previous views by Shardul Kulkarni See what other Experts & Brokerages are saying about Walchandnagar See messages about Walchandnagar Walchandnagar BSE | NSE 01/06/12 Are Mutual Funds betting on Walchandnagar?

Buy Walchandnagar Industries , says Shardul Kulkarni , Technical Analyst at Angel Broking.

Kulkarni told CNBC-TV18, "We are recommending Walchandnagar Industries to all the clients. The stock has given a breakout today itself. It is midcap counter that we recommend."

He further added, "Going on the long side this stock can be purchased at current levels with stoploss at around Rs 235 and target of Rs 270."

The share closed at Rs 245.45, up Rs 4.55, or 1.89%. Market capitalisation stands at Rs 934.43 crore.

The company touched its 52 week high Rs 292.90 and 52 week low Rs 110.70 on 21 Jan, 2010 and 08 Apr, 2009, respectively. Currently, it is trading -16.2% below its 52-week high and 121.73% above its 52-week low.

Disclosure: We have recommended the stock to our clients but I don't have any personal holdings.