Buy BL Kashyap for target of Rs 475:India Infoline

MUMBAI: India Infoline has recommended its traders to buy BL Kashyap for target of Rs 475.

���On Tuesday, BL Kashyap surged sharply on impressive volumes above its critical resistance levels of Rs 429-430. It now faces a resistance at Rs 480-484 levels and should have a minimum upside till that level.

Our argument is further validated after the stock gave an upside breakout in yesterday���s session as the price broke through the top of a trading range. Moreover, the stock has given a close above its short-term moving averages. We recommend traders with high risk appetite to buy the stock in the range of Rs 447-455 with a strict stop loss of Rs 441 for a target of Rs 475,��� the recommendation said.

Note:Trading idea valid for a time period of 1-3 days.