Bayer Corp poised for target of Rs 1000-1200: Ventura
Bharat Gala, senior technical analyst, Ventura Securities is of the view that Bayer Corp poised for target of Rs 1000-1200.
By ET Bureau |
MUMBAI: Bharat Gala, senior technical analyst, Ventura Securities is of the view that Bayer Corp poised for target of Rs 1000-1200.
“The last swing from Rs 638 to Rs 839 in Bayer Corp had substantial volumes and the correction did not attract high volumes.
After consolidating for a week, the stock has again crossed the high of Rs 840 and is poised for Rs 1000-1200 price area.
The near stoploss is Rs 790 and investors can keep a stoploss of Rs 730.
The trend indicator is showing immense strength and the stock can have strong upside momentum,” he said.
“The last swing from Rs 638 to Rs 839 in Bayer Corp had substantial volumes and the correction did not attract high volumes.
After consolidating for a week, the stock has again crossed the high of Rs 840 and is poised for Rs 1000-1200 price area.
The near stoploss is Rs 790 and investors can keep a stoploss of Rs 730.
The trend indicator is showing immense strength and the stock can have strong upside momentum,” he said.
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