Expect upside of Rs 20 in Ballarpur Industries: Ventura

MUMBAI: Bharat Gala, President, Ventura Securities is of the view that Ballarpur Industries has the potential to move Rs 20 higher from current levels.

“There is a high probability that Ballarpur Industries may cross Rs 39 hurdle with an ascending triangle pattern break out. The strength of the pattern is approximately Rs 20. Intermediate profit booking levels are at Rs 50-54.

Support area is between Rs 34-30 range. Two consecutive close below Rs 28 negates the above view. Best move in the stock should start above Rs 39-40 levels for fast returns,” Gala said.