Buy Future Retail Ltd. target Rs 800.0 : HDFC Securities

HDFC Securities has buy call on Future Retail Ltd. with a target price of Rs 800.0 . The current market price of Future Retail Ltd. is Rs 595.75. Time period given by analyst is month when Future Retail Ltd. price can reach defined target.
HDFC Securities recommended to keep stoploss at Rs 550.

"Future Retail is one of the strongest stocks in the market currently. This week, the stock broke out of the 465-536 trading range in which it was trading within for the previous two weeks. In the process, the stock has reversed its recent short term downtrend and resumed its intermediate uptrend. The stock also trades above the 13-day and 50-day SMA. Weekly momentum readings too are in rising mode and not extremely overbought," said Subash Gangadharan, Senior Technical Research Analyst at HDFC Securities.

Future Retail Ltd., incorporated in the year 2007, is a Large Cap company (having a market cap of Rs 31507.14 Crore) operating in Retail sector.