Buy Greaves Cotton, target Rs 150: Swati Hotkar

Swati Hotkar of Nirmal Bang Securities has a buy call on Greaves Cotton with a target price of Rs 150.

The current market price of Greaves Cotton is Rs 136.75.

Time period given by the analyst is a week when Greaves Cotton price can reach the defined target.


Swati Hotkar recommended keeping a stop loss at Rs 128.

"The weekly chart indicates that the stock is forming the Pennant pattern and it is on the verge of giving the breakout which comes at Rs 137 level. An interesting fact is that the stock is trading above all the important moving averages, which indicate a positive view. One may go long above Rs 137 for a target of Rs 150," Swati Hotkar said in a report.