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Last Updated : Feb 23, 2015 04:11 PM IST | Source: Moneycontrol.com

Buy Thomas Cook; target of Rs 221: ICICIdirect

ICICIdirect.com has recommended to buy Thomas Cook (India) in the range of Rs 192 - 197 for a target price of Rs 221 with a stop loss below Rs 180 on a closing basis, in its research report dated February 20, 2015.

 
 
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ICICIdirect.com's research report on Thomas Cook (India)


The share price of Thomas cook is poised for resumption of its larger up trend after consolidation near key price support. We, therefore, believe that stock offers decent risk-reward to enter the next up leg ahead of the Union Budget.


The robust price structure in the stock is gauged from the fact that price rallies are faster while corrections are time consuming. Such price behaviour necessarily highlights the corrective nature of the price decline as the stock price works out of overheated conditions.

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The robust price structure in the stock is gauged from the fact that price rallies are faster while corrections are time consuming. Such price behaviour necessarily highlights the corrective nature of the price decline as the stock price works out of overheated conditions.


Based on the above technical parameters, we believe the stock is set for its next up leg within the larger up trend. We expect the stock to head towards Rs 221 being the 123.6% retracement of recent decline (216-189), thereby providing a decent reward-risk set-up from a medium-term perspective.


Strategy: "Buy Thomas Cook in the range of Rs 192.00-197.00 for a target of Rs 221.00 with a stop loss below Rs 180.00 on a closing basis", says ICICIdirect.com research report.


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First Published on Feb 23, 2015 04:11 pm
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