Tuesday, June 29, 2010

Buy Bhushan Steel for Target of Rs 1545: Reliance Money

MUMBAI: Reliance Money has advised trader to buy Bhushan Steel for target of Rs 1545.

"Bhushan Steel has given a breakout from its downward sloping trendline combined with a breakout from CVI plotted on the chart below. Currently, the stock price is reverting after finding support from its CVI, thus indicating high possibility of a change in trend.

Traders can buy the stock above Rs 1450 with a stoploss of Rs 1410 on a closing basis and a target of Rs 1545," the report said.