Buy Sonata Software with a target at Rs 159: Manas Jaiswal

Manas Jaiswal, manasjaiswal.com recommends a buy rating on Sonata Software with a target price of Rs 159 and a strict stop loss placed at Rs 149. The stock has slipped 13 per cent so far in the calendar year 2016. The stock is looking bullish on the charts.

Sonata Software is a low beta stock (-0.17) and is trading well below its 50-day, 100-day and 200-day moving averages at Rs 151.02, Rs 154.68 and Rs 154.44, respectively, as per data collated by ETMarkets.com. The stock is trading with a P/E of 14.37 and P/B of 3.71.