Forbes Gokak can touch Rs 550: Bhambwani

Technical Analyst, Vijay Bhambwani is of the view that Forbes Gokak can touch Rs 550.

Bhambwani told CNBC-TV18, "Forbes Gokak is only listed on the Bombay Stock Exchange and its range bound currently between Rs 330 to Rs 400 levels. Buying closer to the Rs 320-310 levels would reduce the margin of decline from there and once it starts to trade above the Rs 400 or 410 levels you should see the stock inch up to Rs 550 odd in the coming year and a half and this is purely for delivery based investors."

Disclosure: Analyst doesn't hold the above stock.