Technical Analyst, Rajat K Bose is of the view that above Rs 55, ITI can touch Rs 59.
Bose told CNBC-TV18, " Hindustan Organic Chemicals , HOCL is looking pretty strong, it had a breakout. We are looking at something like Rs 33 level and if Rs 33 is crossed then the next target would be Rs 36 and after that Rs 38, but it is a vertical move, generally it actually tries to consolidate around that level."
He further added, "ITI is a momentum play and it continues to move up after it has made a good swing. So, now I would be looking at a level of Rs 55, if it crosses Rs 55 then maybe it might cross even Rs 59 or Rs 61 levels. So, put a protective stoploss below Rs 49.50 or if one wants a straight stoploss then that should be Rs 48.70."
