Buy Videcon Industries above Rs 218: Nirmal Bang
Nirmal Bang is of the view that Videcon Industries is a strong buy call if the stock holds above Rs 218.
By ET Bureau |
MUMBAI: Nirmal Bang is of the view that Videcon Industries is a strong buy call if the stock holds above Rs 218.
“Videocon Industries has been consolidating for quite some time in the range of Rs 201-209 and has given fresh breakout with significant volumes. The daily and weekly charts are also showing positive divergence.
Immediate resistance is seen at Rs 218 and if sustains above this point then we see a target of Rs 237. It's a strong buy if it holds above Rs 218. Keep a stoploss of Rs 203 for target of Rs 237,” the report said.
“Videocon Industries has been consolidating for quite some time in the range of Rs 201-209 and has given fresh breakout with significant volumes. The daily and weekly charts are also showing positive divergence.
Immediate resistance is seen at Rs 218 and if sustains above this point then we see a target of Rs 237. It's a strong buy if it holds above Rs 218. Keep a stoploss of Rs 203 for target of Rs 237,” the report said.
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