Punjab Tractors can test Rs 250: Gaba

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Punjab Tractors can test Rs 250: Gaba

Technical Analyst, Prakash Gaba is of the view that Punjab Tractors can test Rs 250. The stock has seen a low of around Rs 185 levels. There has been a good technical breakout and the short-term target is around Rs 240. It is a slow moving stock but it is a good stock to hold and buy.

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Excerpts from Markets Midday on CNBC-TV18 Watch the full show » RELATED NEWS Punj Lloyd Group bags Rs 1272cr LTA Project in Singapore Punj Lloyd bags order, stock gains 5.5% Buy Punj Lloyd, target Rs 564: Prabhudas Lilladher ALSO READ See previous views by Prakash Gaba See what other Experts & Brokerages are saying about Punj Tractors See messages about Punj Tractors Punj Tractors BSE | NSE 01/01/70 Are Mutual Funds betting on Punj Tractors?

Technical Analyst, Prakash Gaba is of the view that Punjab Tractors can test Rs 250. The stock has seen a low of around Rs 185 levels. There has been a good technical breakout and the short-term target is around Rs 240. It is a slow moving stock but it is a good stock to hold and buy.

Gaba told CNBC-TV18, "In Punjab Tractor we have seen a low of around Rs 185 levels. The down side is over, the worst is over and there should be only upside. There has been a good technically breakout even today at around Rs 207 levels or so, structurally it is positive. There has been a good technical breakout and the short-term target is around Rs 240. Give some time and space, it can go to Rs 250. It is a slow moving stock but it is a good stock to hold and buy."

Disclosure: Analyst doesn't hold the above stock.