Buy Educomp Solutions; target of Rs 502: IIFL

IIFL is bullish on Educomp Solutions and has recommended buy rating on the stock with a target of Rs 502 in its February 1, 2011 research report.

Educomp on the medium term chart though have broken down below critical support of Rs 480, however after yesterdays rebound and close near the days high with good volumes has led to formation of hammer pattern on candlestick. Hence an opening above Rs476 should end the down trend in the counter and stock should head towards Rs 510 in the near term. Another important observation to corroborate bullish stance in the stock is formation of

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