Buy Maharashtra Seamless, target Rs 535: Vaishali Parekh
Buy Maharashtra Seamless Ltd. at a price target of Rs 535.0 and a stop loss at Rs 447 from entry point.
By ETMarkets.com |
Vaishali Parekh of Prabhudas Lilladher has a buy call on Maharashtra Seamless with a target price of Rs 535.
The current market price of Maharashtra Seamless is Rs 468.35.
Time period given by the analyst is one month when Maharashtra Seamless price can reach defined target.
Vaishali Parekh recommended to keep stop loss at Rs 447.
The stock has witnessed a gradual steady correction from the peak of 551 to bottom out at around 452 levels and is currently consolidating at that level gaining strength and has got the potential to give a decent pullback to scale upto 515 – 520 levels. With the RSI indicating a trend reversal from the oversold zone, it has signaled a buy with a positive bias and with good volume participation witnessed.
The current market price of Maharashtra Seamless is Rs 468.35.
Time period given by the analyst is one month when Maharashtra Seamless price can reach defined target.
Vaishali Parekh recommended to keep stop loss at Rs 447.
The stock has witnessed a gradual steady correction from the peak of 551 to bottom out at around 452 levels and is currently consolidating at that level gaining strength and has got the potential to give a decent pullback to scale upto 515 – 520 levels. With the RSI indicating a trend reversal from the oversold zone, it has signaled a buy with a positive bias and with good volume participation witnessed.
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