Nooresh Merani, CEO at Analyse India recommends buying NESCO as the stock may test Rs 1800 over the next few months.
Nooresh Merani, CEO at Analyse India told CNBC-TV18, "NESCO is an interesting company, after making a move above Rs 1,000 which was a multi-year resistance, the stock consolidated around Rs 1,300, somewhere closer to Rs 1,350 was the breakout point and the stock has crossed into all time highs. Therefore, the best way to look into a momentum trade or even an investment in a good bull market is to buy when the stock makes new all time high."
"The stock has given channel breakout or a flag breakout above Rs 1,350. We are looking towards a target price of Rs 1800 over the next few months. One can buy the stock at current level as well as on dips and a stoploss would be placed closer to Rs 1,300," he said.
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