Buy PI Industries Ltd. target Rs 1095.0 : Jay Thakkar

Jay Thakkar of Anand Rathi has a buy call on PI Industries with a target price of Rs 1,095.

The current market price of PI Industries is Rs 1,016.20.

Time period given by the analyst is two weeks when PI Industries price can reach the defined target.

Jay Thakkar recommended keeping a stop loss at Rs 988.

"The stock has provided a breakout from the symmetrical triangular pattern formed in its wave 4 and now wave 5 up seems to have started. The stock has been moving higher in an upward sloping parallel channel and recently it has taken good support at the lower end of the channel. From here on, the stock is likely to inch towards the upper end of the channel," said Thakkar.

PI Industries, incorporated in the year 1946, is a midcap company (having a market cap of Rs 14,054.28 crore) operating in the chemicals sector.