Buy Patel Engineering, Rashtriya Chemicals: Systematix

Written By Unknown on Jumat, 25 April 2014 | 14.02

Systematix Shares is bullish on Patel Engineering Company, Rashtriya Chemicals and Fertilisers (RCF) and has recommended traders to buy both the stocks for the target price of Rs 80 and Rs 38 respectively in its research report dated April 25, 2014.

Systematix Shares' research report

Patel Engineering Company

Patel Engineering is in strong uptrend. The stock is near its previous swing high. Steady rise in volumes is seen since last 3 trading sessions.RSI is at 69 level indicating strong upward momentum. The stock is expected to rise from current levels. Traders can Buy the stock at or above 77 with a stop loss of 76 for a target of 80.

Rashtriya Chemicals and Fertilisers  (RCF)

RCF has exhibited a rounding bottom formation and yesterday, it bounced for the upside after taking support at the breakout line at 36.It is also above its 20 DMA. RSI is at 64 level in the bullish zone. The stock is expected continue its rise from current levels. Traders can Buy the stock at or above 36.50 with a stop loss of 35.75 for a target of 38", says Systematix Shares research report.

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To read the full report click here


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