Tuesday 4 November 2008

IVRCL Infra can rally upto Rs 129-130: Mathew

Technical Analyst, E Mathew is of the view that IVRCL Infrastructure and Projects can rally upto Rs 129-130.

Mathew told CNBC-TV18, "We are participating in a pullback rally. I will not say that IVRCL is out of its downtrend. It has the capability of going up to around Rs 129 to Rs 130. At best if we see that the Nifty is rallying to around 3,300-3,400 zone, you could see it rolling around Rs 145-150 but beyond that it looks difficult. I would be surprised if it sustains even above Rs 130."

Disclosure: Analyst associate company has sold out of money calls.

Source: Moneycontrol

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