Buy Rolta India between Rs 190-230: N Pillai
Published on Friday, October 3rd, 2008 at 8:07 AMAuthor: admin (5507 Articles)
Neppolian Pillai of Modern Shares & Stock Brokers is of the view that one can buy Rolta India between Rs 230-190 range for a target of Rs 267-279.
“In IT space most of the stocks where they are hitting major lows in the past few days but the sector is going to lose some more steam. It is not going past the previous lows when it is reaching up because it broke 2-times the previous lows on the comparative chart. Now in this month it needs to go above that low to really tell us it is going to go into a huge buy. That will be a contrarian buy sector for us because most of the stocks are at their major levels. So even though the comparative chart is not going into a buy as of now maybe I would like to look into stocks at a lower level to buy.”
He further added, “Our pick for this current month will be Rolta India between Rs 230-190. This time this month we are giving a larger range purely because the market is in a flux, so we are trying to put it ourselves by buying in a bigger range. So Rs 230-190 is the range, I would like to buy Rolta for a target of Rs 267-279. It would be safe to place a stoploss at about Rs 185.”
Source : MoneyControl
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