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 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.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!
