Buy ICSA for target of Rs 235: India Infoline
India Infoline has advised traders to buy ICSA for target of Rs 235.
By ET Bureau |
MUMBAI: India Infoline has advised traders to buy ICSA for target of Rs 235.
"ICSA has made higher tops and higher bottoms in last several months. It has risen steadily from the levels of Rs 141 in third week of July 2009 to the current levels. Last week, the stock confirmed a breakout after giving a close above its critical resistance zone of Rs 215.
In addition, the gain in the stock price in the last week has been on back of increasing volumes, indicating strong buying. We continue to remain positive on the stock from technical perspective as the stock has managed to hold on to its short-term support trendline.
We recommend traders to buy the stock in the range of Rs 214-219 with a stoploss of Rs 209 for a target of Rs 235 and Rs 239," the report said.
Note: Trading idea valid for time period of 1-3 days.
"ICSA has made higher tops and higher bottoms in last several months. It has risen steadily from the levels of Rs 141 in third week of July 2009 to the current levels. Last week, the stock confirmed a breakout after giving a close above its critical resistance zone of Rs 215.
In addition, the gain in the stock price in the last week has been on back of increasing volumes, indicating strong buying. We continue to remain positive on the stock from technical perspective as the stock has managed to hold on to its short-term support trendline.
We recommend traders to buy the stock in the range of Rs 214-219 with a stoploss of Rs 209 for a target of Rs 235 and Rs 239," the report said.
Note: Trading idea valid for time period of 1-3 days.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
