Buy ITI with stoploss of Rs 45.50: M Thacker
Published on Wednesday, November 11th, 2009 at 6:55 PMAuthor: stockalert (2027 Articles)
Buy ITI with stoploss of Rs 45.50, says Mitesh Thacker, Technical Analyst, miteshthacker.com.
“A lot of action is happening in the so-called stocks from the public sector undertaking (PSU) side, which could jump on the divestment bandwagon. ITI moved up nicely yesterday. We saw the stock breakout of its range of Rs 46 and Rs 37 and could head up to Rs 54-55 in the short-term. So technically a good breakout above previous highs with good jump in volumes makes for a good buy call in the market which is very unsure where it is going. So ITI can probably hit to level of Rs 54 and I would recommend a buy with a stoploss of Rs 45.50.”
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