Buy Harrison Malyalam for target of Rs 130: India Infoline
India Infoline has advised traders to buy Harrison Malyalam for target of Rs 130.
By ET Bureau |
MUMBAI: India Infoline has advised traders to buy Harrison Malyalam for target of Rs 130.
“A detailed study of daily chart suggests that Harrison Malyalam has made several attempts to break above the resistance zone of Rs 120-121 (100-day DMA) since February 2010. On Thursday, the stock closed just below the important moving average yet again with strong volumes.
We expect the rangebound trading to come to an end and is likely to resume its uptrend. We continue to remain positive on the stock from technical perspective. We recommend traders to buy the stock in the range of Rs 118-121 with a stoploss of Rs 114 for target of Rs 130,” the report said.
Note: Trading idea valid for time period of 1-3 days.
“A detailed study of daily chart suggests that Harrison Malyalam has made several attempts to break above the resistance zone of Rs 120-121 (100-day DMA) since February 2010. On Thursday, the stock closed just below the important moving average yet again with strong volumes.
We expect the rangebound trading to come to an end and is likely to resume its uptrend. We continue to remain positive on the stock from technical perspective. We recommend traders to buy the stock in the range of Rs 118-121 with a stoploss of Rs 114 for target of Rs 130,” the report said.
Note: Trading idea valid for time period of 1-3 days.
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