Buy ABG Shipyard at Rs 385: Sundar Raja

Buy ABG Shipyard at Rs 385, says Sundar Raja, Technical Analyst.

Raja told CNBC-TV18, "ABG Shipyard after a long 1 month of consolidation at the current rate of Rs 380-385, it has finally broken out of this major resistance indicating a short term uptrend. The stock can be considered by intra-day traders as well as for short term position traders. Buy at the current level of Rs 385 with a strict stop loss below Rs 380 with a possible target of Rs 390. If the stock were to close strong above Rs 385 then it can be converted into position trading also."