IIFL is bullish on Petronet LNG and has recommended buy rating on the stock with a target of Rs 185 in its September 13, 2011 research report.
“Petronet LNG has signaled a breakout from the range bound movement (Rs170-178) after formation of bullish piercing line on Monday. Yesterday, it also gave a close above its 10-DMA confirming positive formation. The RSI is also trading with positive bias accompanied with positive crossover which supports buying argument in the counter. We advise buying the stock above Rs 179 with SL of 176 for target of Rs 185,” says IIFL research report.
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