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Buy Hindustan Construction Company, target Rs 58: Yes Securities

Buy Hindustan Construction Company Ltd. at a price target of Rs 58.0 and a stop loss at Rs 36 from entry point.

ETMarkets.com|
Last Updated: Jan 25, 2018, 07.51 AM IST
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Yes Securities has a buy call on Hindustan Construction Company with a target price of Rs 58.

The current market price of Hindustan Construction Company is Rs 40.45.

Time period given by the analyst is 'Short Term' when Hindustan Construction Company price can reach defined target.

Yes Securities recommended to keep a stop loss at Rs 36.

In a report, the brokerage firm said, "Hindustan Construction Company is on the verge of a breakout from the neckline of an Ascending Triangle pattern on the weekly chart suggesting bull trend reversal on cards. Neckline of the pattern is placed at 48; a sustained trade above the neckline with healthy volumes may take it to levels of 53-58. On the daily chart, the stocks has broken out from a Flag pattern after taking support at the 50 per cent Fibonacci retracement level affirming the bullishness."

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