India Infoline puts BUY on Noida Toll Bridge

India Infoline puts BUY on Noida Toll Bridge
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First Published: Mon, Jun 15 2009. 10 12 AM IST
Updated: Mon, Jun 15 2009. 10 12 AM IST
On the daily chart, the stock has given a bullish breakout. It suggests that its short-term trend has turned up.
Over the last few weeks, the stock was consolidating in the range of Rs37-47, before finally breaking out on Friday.
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 Rs45 for an initial target of Rs52 and Rs55. It is advisable to maintain a stop loss of Rs42.
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First Published: Mon, Jun 15 2009. 10 12 AM IST
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