Buy Bhushan Steel for target of Rs 1560-1610: Nirmal Bang

MUMBAI: Nirmal Bang has advised traders to buy Bhushan Steel for target of Rs 1560-1610.

“Buy Bhushan Steel on dips and hold from a long term perspective. After a long time of consolidation the stock has given a strong closing above its 50-DMA of Rs 1,461.

Structure looks positive and going forward if the stock holds above Rs 1,490 then we see a strong rally happening upto Rs 1,560 /1,610. Stoploss can be placed at Rs 1,440,” the report said.