Pritesh Mehta, senior technical analyst at IIFL told CNBC-TV18, "VIP Industries has defined the trend in the broader market. If you analyse the chart, the stock has in fact made a breakout from an inward head and shoulder pattern. We can also see this stock breaking out from a cup and handle pattern. All these bullish implications are telling us that the stock has the potential to surprise us on the upside. So buy VIP Industries for a target of Rs 135."
At 15:03 hrs VIP Industries was quoting at Rs 122.30, up Rs 1.30, or 1.07 percent. It has touched an intraday high of Rs 122.90 and an intraday low of Rs 119.15.
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