Buy FCS Software on declines: Thacker

Thacker told CNBC-TV18, "FCS Software has made good bottoming formation in the range of Rs 11-12 and its recording its highest even closing since 2006. So this stock has managed to get pass the levels of around Rs 14.5-15 and record a weekly closing above that. I think it becomes a good buy in declines. The all time highs of this stock which are at around Rs 22-23 will be tested over a period of time. So this is a good stock if somebody takes if from a perspective of around three-four months.”

He further added, "The smaller public sector undertaking (PSU) banking stocks are not able to convincingly cross above their previous highs. Dena Bank though has been able to do that but the all time highs for this stock are at around of Rs 93-94 – that’s the highest weekly closing the stock has ever recorded. I think it’s very close to supply areas. I think a lot of these banking stocks are now close to their previous highs, 52 week highs or their all time highs. I think they are facing that kind of supply after having good run. So they will consolidate for sometime. I would be looking at Dena Bank, if this stock manages to close above Rs 95.”