Trading Idea: Federal Mogul Goetze – BUY
CMP Rs142, Target Rs175, Upside 20.4%
The stock technically is a compelling buy for two reasons – i) it is above its 200-DMA, and ii) consolidating at the neckline of an inverted head & shoulders pattern. It sets the stock up for target of Rs175 in the medium term. Daily oscillators are also showing signs of an upward movement.
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Warm Regards,
India Infoline Research Team
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