Tuesday, 14 October 2008

Buy McDowell for target Rs 850: Anand Rathi

McDowell has made a possible double bottom at Rs 700 in past two days. The stock crashed from Rs 1,269 four days before it reached a low o

f Rs 700. Thus, there is a possibility of good pullback with volume, according to Anand Rathi Securities.

The brokerage advises buying in cash around Rs 760-744 levels with stop loss at Rs 850 for the said target.

Source: EconomicTimes

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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.