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Buy Biocon, Andhra Bank: Systematix

Systematix Shares has recommended traders to buy Biocon, Andhra Bank for the target price of Rs 467 and Rs 58 respectively in its research report dated March 03, 2014.

March 03, 2014 / 15:22 IST
     
     
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    Systematix Shares' research report

    Biocon

    "Biocon is trading above an important upward trendline.It has also exhibited a upward breakout from an ascending triangle pattern with a rise in volumes.RSI is at 61 ,indicating strength in the upmove. The stock is expected to rise from current levels. Traders can Buy the stock on dips till 452 with a stop loss of 445 for a target of 467."

    Andhra Bank

    "Andhra Bank is exhibiting a Bollinger squeeze. The price is increasing with a rise in volume since last 2 days, indicating a possibility of a upward breakout. Price is above 20 DMA. RSI is neutral 50. Traders can Buy the stock at or above 56 with a Stop‐loss of 54.75 for a target of 58," says Systematix Shares research report.

    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.

    first published: Mar 3, 2014 03:22 pm

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