Buy ITI with stoploss of Rs 45.50: M Thacker

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Buy ITI with stoploss of Rs 45.50: M Thacker

Buy ITI with stoploss of Rs 45.50, says Mitesh Thacker, Technical Analyst, miteshthacker.com.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Mitesh Thacker See what other Experts & Brokerages are saying about ITI See messages about ITI ITI BSE | NSE 13/02/12 Are Mutual Funds betting on ITI?

Buy ITI with stoploss of Rs 45.50, says Mitesh Thacker , Technical Analyst, miteshthacker.com.

Thacker told CNBC-TV18, "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."