Buy Hero Motocorp Dec Fut; target Rs 2250: ICICIdirect.com

Written By Unknown on Sabtu, 21 Desember 2013 | 18.00

Dec 20, 2013, 06.05 PM IST

ICICIdirect.com has recommended to buy Hero Motocorp December Futures in the range of Rs 2090-2115 for the target price of Rs 2250 with a stop loss of Rs 2010, in its research report dated December 20, 2013.

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Buy Hero Motocorp Dec Fut; target Rs 2250: ICICIdirect.com

ICICIdirect.com has recommended to buy Hero Motocorp December Futures in the range of Rs 2090-2115 for the target price of Rs 2250 with a stop loss of Rs 2010, in its research report dated December 20, 2013.

Like this story, share it with millions of investors on M3

Buy Hero Motocorp Dec Fut; target Rs 2250: ICICIdirect.com

ICICIdirect.com has recommended to buy Hero Motocorp December Futures in the range of Rs 2090-2115 for the target price of Rs 2250 with a stop loss of Rs 2010, in its research report dated December 20, 2013.

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ICICIdirect.com's report on Hero MotoCorp

"In the two-wheeler space, Hero MotoCorp has been a clear outperformer. The stock has gained well over 11 percent for the year and continues to attract money flows. In the futures segment, the short covering continues and in the current month itself the OI has come down to 14125 from 15500 contracts. We believe this covering trend is likely to get magnified near December expiry, as short traders may try to come out of this stock. The stock also witnessed a sharp pick-up in delivery near the 50 DMA of Rs 2070. Thus, on downsides, this would act as a good support level. Buy Hero Motocorp December futures in the range of Rs 2090-2115. Target Rs 2250 SL Rs 2010," says ICICIdirect.com research report.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.


To read the full report click here


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