IIFL is bullish on Sesa Goa. The brokerage house has recommended buying the stock above Rs 160, with a stop loss of Rs 154 and for a target price of Rs 172, in its May 06, 2013 research report.
The report says, "On the daily chart, Sesa Goa has formed a bullish candlestick pattern on Friday's trading session, taking support at its 50-DMA. It suggest that the possibility of pullback to its 200-DMA remains high. Applying 'Wolfe Wave' on the EOD charts, it suggest that the stock completed its Wave 5 last month and has entered into a medium term bullish trend and it may hit EPA (Estimated Price at Arrival) of Rs 175 i.e. 200-DMA. As long it sustains above the support of its 50-DMA, the uptrend is likely to continue. (Duration 7 days)."
Bodies Corporate holding more than 50% in Indian cos
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