172@29@17@105!~!172@29@0@53!~!|news|business|stocks|-1202925.html!~!news|moneycontrol|com!~!|controller|infinite_scroll_article.php!~!is_mobile=false
Moneycontrol
Subscribe to PRO at just Rs.33 per month. Use code SUPERPRO
Last Updated : Mar 14, 2013 11:15 AM IST | Source: Moneycontrol.com

Buy ITC above Rs 301; target Rs 311: IIFL

IIFL is bullish on ITC and has recommended to buy the stock above Rs 301 with a stop loss of Rs 296 for the target price of Rs 311, in its March 14, 2013 research report.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

IIFL is bullish on ITC and has recommended to buy the stock above Rs 301 with a stop loss of Rs 296 for the target price of Rs 311, in its March 14, 2013 research report.


"On Wednesday, the stock broke out past its recent peak of Rs300 which was acting as a stiff resistance for the stock since last three weeks. Daily chart suggests formation of distinctive pattern this is most likely to result into a short-term rally in the counter. We believe that the current breakout is likely to lead to a potential upside up to the levels of Rs310 and above. Momentum oscillators are also exhibiting strength in the upmove. We expect the stock to remain in the momentum as long as it sustains above its 50-DMA. (Duration 5 days)," says IIFL research report.


Bodies Corporate holding more than 50% in Indian cos


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click on the attachment

First Published on Mar 14, 2013 11:15 am
Sections