Power pick: Buy RHI Magnesita India Ltd For Target Rs.740 - Anand Rathi
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RHI Magnesita India Ltd: CMP: 700 STOP LOSS: 680 TARGET: 740
* The stock RHIM has confirmed a fresh breakout above 700 mark and that too at its all time high.
* The price action is coupled with significant volumes.
* Even the momentum oscillators are positively poised and thus we expect sharper move in the stock. Thus we advise traders to buy it in the range of 702 – 698 with a strict stop of 680.
* It is a T+5 positional cash trade.
* Traders are suggested to trade with stop loss and follow the levels strictly
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