Exit Lanco Infratech at Rs 575-580: Thacker

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Exit Lanco Infratech at Rs 575-580: Thacker

Exit Lanco Infratech at Rs 575-580, says Mitesh Thacker, Technical Analyst, miteshthacker.com.

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Excerpts from Your Stocks on CNBC-TV18 Watch the full show » ALSO READ See previous views by Mitesh Thacker See what other Experts & Brokerages are saying about Lanco Infratech See messages about Lanco Infratech Lanco Infratech BSE | NSE 10/02/12 Are Mutual Funds betting on Lanco Infratech?

Exit Lanco Infratech at Rs 575-580, says Mitesh Thacker , Technical Analyst, miteshthacker.com.

Thacker told CNBC-TV18, "Lanco Infratech has been one of the few stock which is in the entire corrective movement of the markets has managed to hold above its short term and medium term averages. So very clearly the uptrend remains intact though there are some signals of weakness on the momentum indicator charts. My belief is that the stock probably in case the market remains favourable it will hit towards its recent highs of around Rs 575-580, that is where the supply area also lie. So Rs 570-580 would be a good exit price otherwise I would suggest holding the stock with a stoploss of around Rs 487 because that is the critical support area. As long as the stock is above that the uptrend remains intact."

Disclosure: I have recommended the above stock to my clients.