Logix Micro has target of Rs 73.83: Kushe

Kushe told CNBC-TV18, "Logix Microsystems is quoting at even 50% of its book value. It has a book value of more than Rs 140 and it is quoting at around Rs 59. There is a good stoploss of around Rs 56 and a huge risk reward ratio.”

He further added, “The breakout point for Logix is around Rs 61.60. Once it starts moving above Rs 61.60, the immediate targets are Rs 73.83 and a slightly longer-term target of around Rs 105 and Rs 140. One should keep a buy stoploss of above Rs 61.60 that is also would be a fine entry strategy and then once the breakout is achieved one can enter the stock."

Disclosure: I own the above stock. We have recommended Timex at Rs 21 and we are holding it. We have recommended Logix Microsystems at
Rs 58.