IIFL is bullish on Cadila Healthcare and has recommended buy rating on the stock with a target of Rs 875 in its January 21, 2011 research report.
Cadila Healthcare has given an upside breakout (On the daily chart), considered to be an important bullish signal. The stock is poised for further gains in the next few trading sessions. The undertone is reasonably strong and is likely to push price higher. After consolidating in the range of Rs 826- 750 for last four weeks, the stock closed above the peak of its trading range of Rs 826 yesterday. The upside breakout is well accompanied with decent volumes. Based on above mentioned technical evidences, we recommend traders to buy the stock above Rs 830 with stop loss of Rs 814 for target of Rs 875,Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
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