Aban Offshore may test Rs 245, says Pritesh Mehta

Written By Unknown on Senin, 28 Oktober 2013 | 18.01

Pritesh Mehta of IIFL told CNBC-TV18, " Aban Offshore had a sharp correction, thereafter it bottomed out. Bottoming out generally is a process where stocks tend to wander around doing nothing much. The stock did move in a range of Rs 219-230 for quite a while and thereafter it is showing a sign of fresh up move."

"It has given a breakout above Rs 232 in today's trade. We expect the momentum to continue on the upside and we can see levels of Rs 245 may be in next couple of trading sessions. It is just a short term trading idea," he said.

Disclosure: Analyst might has recommended this stock to his clients but no personal holdings.



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