KPIT Cummins can test Rs 150-160: Jai Bala

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KPIT Cummins can test Rs 150-160: Jai Bala

KPIT Cummins Infosystems can test Rs 150-160, says Jai Bala, Chief Market Technician, Cashthechaos.com.

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Excerpts from Markets Midday on CNBC-TV18 Watch the full show » RELATED NEWS KPIT Cummins has target of Rs 135: Gujral Buy KPIT Cummins; target of Rs 140: Sunidhi Sec Buy KPIT Cummins; target of Rs 140: Sunidhi Securities ALSO READ See previous views by Jai Bala See what other Experts & Brokerages are saying about KPIT Cummins See messages about KPIT Cummins KPIT Cummins BSE | NSE 30/05/12 Are Mutual Funds betting on KPIT Cummins?

KPIT Cummins Infosystems can test Rs 150-160, says Jai Bala , Chief Market Technician, Cashthechaos.com.

Bala told CNBC-TV18, "I like KPIT Cummins at this point. It has made a very strong bullish bar reversal yesterday. if one were to place a stoploss at Rs 105 and go long at this point, I expect it to scale to Rs 150-160 in the short-term."

KPIT Cummins has touched an intra day high of Rs 130.80 and an intra day low of Rs 121.10. At 14:49 hrs the share was quoting at Rs 121.70, down Rs 7, or 5.44% with volumes of 175,312 shares.

Its Market Cap is of Rs 949.90 crore. Currently the share is 474.06% above the 52-week low of Rs 21.20.

Disclosure: I don't hold any of the above stock or not do I have any trading position.