India Infoline on Patni Computer - Target Rs 625
India Infoline is bullish on Patni Computer Systems and has recommended buy rating on the stock with a target of Rs 625, in its research report.
"A detailed analysis of the volumes of Patni Computer Systems reveals that maximum interest has been displayed by the traders in this stock since March 2010. Prior to the yesterday's breakout from resistance zone of Rs 590-594, the stock had been on a downward curve. It fell from a peak of Rs 594 to the support of its 50-day DMA and than staged a sharp rally. The daily momentum oscillators i.e. RSI and MACD are suggesting strength in the upmove. Keeping in mind the above-mentioned evidences, we suggest high risk traders to buy the stock between the levels of Rs 606-610 with a strict stop loss of Rs 598 for a short-term target of Rs 625," says India Infoline research report.
India Infoline on Indian Bank - Target Rs 245
India Infoline is bullish on Indian Bank and has recommended buy rating on Indian Bank with a target of Rs 245, in its research report.
"On the daily chart, Indian Bank has given a bullish breakout and formed a bullish Candlestick pattern. It suggests that its short-term trend has turned up. Over the last one week, the stock was consolidating in the range of Rs 208-228. On Wednesday, the stock crossed above the upper end of this trading band. The upmove was well supported by healthy volumes, which suggest accumulation. Further, supportive technical oscillators are also positive. We recommend traders to buy the stock at current levels and up to the levels of Rs 227-233 for an initial target of Rs 245. It is advisable to maintain a stop loss of Rs 222."
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