Buy on dips :Videocon Inds at 220-240 hold for Target Rs255: The stock continues to be in an uptrend after breaking out a downward-sloping trend line since January 2010. The momentum indicator RSI is exhibiting positive movement suggesting further upside in the near term. We believe a move past Rs244 will see the stock testing January 2010 peak. Keeping in mind the above mentioned technical parameters, we recommend traders to buy the stock in the range of Rs220-240 with SL of Rs217 for target of Rs255 and Rs260 plus in coming days.
