Buy Bombay Rayon with investment view: Nirmal Bang
Nirmal Bang Securities has recommended investors to buy shares of Bombay Rayon Fashions with an investment perspective.
By ET Bureau |
MUMBAI: Nirmal Bang Securities has recommended investors to buy shares of Bombay Rayon Fashions with an investment perspective.
“The stock has given a fresh breakout after a long time of consolidation. This is purely an investment stock as the kind of move we see is very slow. Strong support is seen at Rs 213–205 levels. If the stock holds above Rs 227 in the near term, then we see a target of Rs 250/290 in the medium term,” said the brokerage firm.
The company’s shares were trading at Rs 227.55, higher by Rs 4.85 or 2.18 per cent on the NSE.
“The stock has given a fresh breakout after a long time of consolidation. This is purely an investment stock as the kind of move we see is very slow. Strong support is seen at Rs 213–205 levels. If the stock holds above Rs 227 in the near term, then we see a target of Rs 250/290 in the medium term,” said the brokerage firm.
The company’s shares were trading at Rs 227.55, higher by Rs 4.85 or 2.18 per cent on the NSE.
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