Buy Walchand Nagar for target of Rs 265: Reliance Money

MUMBAI: Reliance Money has advised traders to buy Walchand Nagar for target of Rs 265.

“Walchand Nagar is forming a 20-50 pattern on a daily chart (where 20 EMA starts to move away from 50 EMA after coming close to each other). Such moves tend to give a return of 15-20 per cent in a week or two.

Traders can accumulate the stock in the range of Rs 232-237 with stoploss of Rs 220 and a target of Rs 265,” the report said.