IndiaInfoline is bullish on Bharat Forge and has recommended buy rating on the stock with a target of Rs 320, in its Janaury 15, 2010 research report.

"Bharat Forge had been consolidating in a narrow range between Rs 285-255 since third week of November 2009. On Thursday, the stock attempted to break out from the upper-end of this trading range with higher-than-average volumes. From the current level, the stock can only move towards one direction, i.e. upwards. The daily RSI has also given a positive divergence, indicating that price would start moving up after facing stiff resistance around the levels of Rs 282-285 zone. We recommend buy on the stock from the above mentioned technical observations. Maintain a stop loss of Rs 287 and go long for a target of Rs 320 in the coming trading sessions," says IndiaInfoline research report.