Ratnamani Metals can test Rs 125: Deshmukh

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Ratnamani Metals can test Rs 125: Deshmukh

Ratnamani Metals and Tubes can test Rs 125, says Akshata Deshmukh, Research Analyst, Asian Markets Securities. One can accumulate it at around Rs 95-96 levels.

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Excerpts from Markets Midday on CNBC-TV18 Watch the full show » ALSO READ See previous views by Akshata Deshmukh See what other Experts & Brokerages are saying about Ratnamani Metal See messages about Ratnamani Metal Ratnamani Metal BSE | NSE 30/05/12 Are Mutual Funds betting on Ratnamani Metal?

Ratnamani Metals and Tubes can test Rs 125, says Akshata Deshmukh , Research Analyst, Asian Markets Securities.

Deshmukh told CNBC-TV18, "After forming a dark cloud in the month of June from the levels of Rs 99 which is a negative pattern, Ratnamani Metals and Tubes has actually given a breakout yesterday with a very good volume. Since last two days volumes have been on an average of 5.5 Lakh whereas the last several months we haven't seen a volume of more than 1.6-1.7 lakh on a daily basis. So I think the breakout coupled with volume expansion is good for this particular stock and the stock can test about Rs 125 levels in a couple of months. I would recommend accumulating this script at around Rs 95-96 levels."

Disclosure: I personally do not hold the stocks discussed but do recommend it to my clients.