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Buy Ranbaxy with stoploss of Rs 280: Arihant

Posted on: June 11th, 2009 and is filed under Brokerage Recommendations.

MUMBAI: Arihant Capital Market has advised traders to buy Ranbaxy with stoploss of
Rs 280.

“On the daily charts, Ranbaxy is in buy on RSI and its 14 days RSI is currently at 66 (above 50 is consider to be in strong hands). Ranbaxy is looking strong on daily chart and has formed Trend Reversal Pattern on EOD chart. One can buy the stock at Rs 297 with closing below stop loss of Rs 280 for a target of Rs 330,” said Arihant Capital Market report.

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