Buy Monnet Ispat for target of Rs 410-455: Kotak

MUMBAI: Kotak Securities has recommended buying Monnet Ispat for a target price of Rs 410-455.

“Monnet Ispat stock has spent nearly three months between the range of Rs 350 and Rs 410. However, as per current formation along with volumes we can say that the stock is interpreting bullish consolidation and may break the range on the higher side.

Our advice is to accumulate between the levels Rs 375 and Rs 365 with an upside target of Rs 410 and Rs 455. Positional traders can keep a stop loss at Rs 350 on a daily basis,” said Kotak Securities report.