Expect Rs 100-130 upmove in Areva T&D: Ventura

MUMBAI: Bharat Gala, president, Ventura Securities is of the view that Areva T&D has given an upmove crossing all near term averages and closing above a pattern with decent volumes.

“Since June Areva T&D has been trading in price-band of Rs 260-295. Today, the stock has given an upmove crossing all near term averages and closing above a pattern with decent volumes.

The stock is due for a first move of Rs 100-130. The profit booking levels are Rs 330-390-475-530. Supports are at Rs (297-293)-290- (285-282).

Two consecutive closes below Rs 280 negates the view for target of Rs 530. The trend indicator suggests presence of firm uptrend in the stock,” Gala said.