Quotes with Resistance & Support
Market Information

Alok Industries has target of Rs 30-34: M Thacker

This article was posted on Jun 9, 2009 and is filed under Stock Views

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: , , , ,

Similar Posts: