Tuesday 7 October 2008

Buy ABB at Rs 680-620: N Pillai

Neppolian Pillai of Modern Shares & Stock Brokers is of the view that one can buy ABB at Rs 680-620.

Pillai told CNBC-TV18, "Capital Goods sector is still holding up. When we came for the monthly check, we said two sectors are still strong enough to withstand this fall those are capital goods and banking. ABB becomes part of that, I think Rs 680-620 is the range that I would put try to buy in, being a contrarion, for a probable target of about Rs 780. In today’s carnage that could be one pick apart from L&T; Rs 950 to about Rs 915 is the target that we are looking for Larsen. If it comes there, we are likely to put in a buy trade. Do not give up on this stock from the capital good sector as of now."

Disclosure: It is safe to assume that analyst nad his clients may have an investment interest in the above stock/sector.

Source: MoneyControl

Posted by Harsh at 22:57

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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.