Alok Industries has target of Rs 30-34: M Thacker
Technical Analyst, Mitesh Thacker is of the view that Alok Industries has target of Rs 30-34.
Thacker told CNBC-TV18, “On Alok, the two price targets that we are working with are around Rs 30-34. We saw all these stocks hit their weekly supply areas. In fact along with the index we saw a lot of stocks hitting their highs that they made before the October declines, which was in the months of August and September 2008. Then we saw the index at a very high overbought rating. So, all this combined made a good technical case of markets correcting by 8-12% and that is what is probably happening today.”
Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the stocks/sectors discussed.
source: moneycontrol
Tags: Alok industries, Mitesh Thacker, moneycontrol, technical, Technical calls
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