Technical Analyst, E Mathew is of the view that above Rs 110, Moser Baer has target of Rs 137. It is also good for trading bet or even a very short-term investment call, he further said.
E Mathew told CNBC-TV18, "Moser-Baer’s chart is certainly looking better than that of Gujarat NRE Coke. They seem to be having some sort of bargain hunting and the stock seems to have passed into stronger hands somewhere around that Rs 98 and Rs 100 zone."
He further added, "If the stock is able to build a base around this Rs 98-100 zone, it could be an interesting play and once the stock is able to move above that Rs 110 convincingly which it has done today, the initial target would be around Rs 137. So if I were to take a trading bet or even a very short-term investment call, my bets would be on Moser-Baer."
Disclosure: It is safe to assume that analyst & his clients may have an investment interest in the stocks/sectors discussed.
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