Buy MRPL for target of Rs 101: India Infoline

MUMBAI: India Infoline has advised high risk traders to buy MRPL for target of Rs 101.

���A detailed analysis of the volumes of MRPL reveals that maximum interest has been displayed by the traders in this stock since first week of August 2009. Prior to the yesterday���s breakout from support zone of Rs 86-87, the stock had been consolidating between the levels of Rs 82-90. The daily momentum oscillators i.e. RSI and MACD are suggesting strength in the upmove. Keeping in mind the above-mentioned evidences, we suggest high risk traders to buy the stock between the levels of Rs 92-94 with a strict stop loss of Rs 89 for a short-term target of Rs 101,��� the report said.

Note: Trading idea valid for time-period of 1-3 days.