HMT targets at Rs 100-102: Thacker

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HMT targets at Rs 100-102: Thacker

For HMT Rs 84-85 is a key level. Once it closes above Rs 85, it would be a good trading bet on the upside. After Rs 85 is breached, look for targets of about Rs 100-102, says Mitesh Thacker of 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 HMT See messages about HMT HMT BSE | NSE 30/05/12 Are Mutual Funds betting on HMT?

For HMT Rs 84-85 is a key level. Once it closes above Rs 85, it would be a good trading bet on the upside. After Rs 85 is breached, look for targets of about Rs 100-102, says Mitesh Thacker of miteshthacker.com.

Thacker told CNBC-TV18, "Every time we see the move happen on HMT or even ITI they are backed with good volumes and probably in anticipation of some kind of good news. Technically speaking, for HMT Rs 84-85 is a key level. Last three-four upmoves have failed to close beyond these levels. So once it closes above Rs 85, certainly would be a good trading bet on the upside. After Rs 85 is breached, you can look for targets of about Rs 100-102."