India Infoline views on Titan Industries, ABB

India Infoline on Titan Ind - Target Rs 2270

 

India Infoline is bullish on Titan Industries and has recommended buy rating on the stock with target of Rs 2270, in its research report.

"Titan Industries has rallied smartly from a low of Rs 1,861 in April 2010 to the present levels. Despite the ongoing volatility in the market, the stock has managed to hold on to the support of its short-term trendline. On the daily charts, it has formed a pattern of a higher bottom. It is considered as the initial sign of a bottoming out process in the short term. The daily RSI is already in strong buy mode, indicating that the prices are set to rally from the current levels."

"A sustained move past the Rs 2,195 levels will see the stock heading towards the levels of Rs 2,250-2,270 in the medium term. We recommend high risk traders to buy the stock between Rs 2,180-2,195 levels for an initial target of Rs 2,270 with a stop loss of Rs 2,165," says India Infoline research report.

India Infoline on ABB - Target Rs 855

 

India Infoline is bullish on ABB and has recommended buy rating on the stock with a target of Rs 855, in its research report.

Since last few months, ABB has made 100-day DMA to be its most important support level. In March 2009 it made a base around this moving average and then staged an impressive rally of 12% in two weeks (from a base of Rs775 to a high of Rs875). In yesterday's session, the stock stabilized again around its 100-day DMA against the weaker trend in the broader indices, emphasizing our belief that it remains a critical support level. Keeping in mind, the above mentioned evidences, we recommend high risk traders to buy the stock with a stop loss of Rs 800 for a target of Rs 855 and Rs 860,"says India Infoline research report.