Technical Analyst, E Mathew is of the view that one can buy Noida Toll Bridge Company on declines.

Mathew told CNBC-TV18, "Noida Toll Bridge is one stock where a lot of traders have made good money because the chart pattern was quite easy to read, the way this stock has bottomed out at about Rs 37-38, and from there it has made a higher bottom at about Rs 42-44, a lot of classical chart watchers would have certainly got into this stock. Right now the stop loss is placed around Rs 45-46, which is a bit little way round below, but this certainly qualifies as a buy on declines"

He further added, "For patient swing traders, one could look for a target of as high as possibly Rs 58, that is the resistance zone undoubtedly, but for those who are much more ambitious, and who are willing to take a little risk, one could even look for a target of as high as about Rs 70. And the concept of trailing stop loss should be used in these trades."