Buy Bharat Forge, target Rs 770: Gaurav Bissa

Gaurav Bissa of LKP Securities has a buy call on Bharat Forge with a target price of Rs 770.

The current market price of Bharat Forge is Rs 729.45.

Time period given by the analyst is one month when Bharat Forge price can reach defined target.


Gaurav Bissa recommended keeping a stop loss at Rs 665.

Investment rationale by LKP Securities:
The stock has been in an uptrend since last 5 years.

The stock witnessed a good price correction but later resumed the uptrend by bouncing from 61.8 per cent Fib level.

The stock is moving in rising channel and is now trading near crucial support levels.

The stock has been taking support from its 200DMA.