Buy Harrisons Malayalam for a target price of Rs 139 says India Infoline Limited
June 24, 2010 by admin
Filed under Brokerage Recommendations, General
India Infoline Limited (IIFL) in its research report dated june 24, 2010 has come out with a buy recommendation on the stock Harrisons Malayalam for a price target of Rs 139.
India Infoline Limited (IIFL) says “Harrisons Malayalam has seen impressive volume in yesterday’s trading session and appears to have taken support between Rs 123-125 zone.
It could bounce till somewhere between Rs 138-140 levels in the near term. Bullish white candlestick appearing in yesterdays session along with spurt in volumes has taken the stock above its 200-DMA, suggesting that the consolidation phase is completed and price is likely to approach levels of Rs 140 in coming days.
We recommend traders with high risk appetite to buy the stock in the range of Rs 127-129 for a target of Rs 139. A stop loss of Rs 122 should be maintained on all long positions.”
