Max India has target of Rs 216: M Thacker

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Max India has target of Rs 216: M Thacker

Mitesh Thacker, Technical Analyst, miteshthacker.com is of the view that Max India has target of Rs 216.

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ALSO READ See previous views by Mitesh Thacker See what other Experts & Brokerages are saying about Max India See messages about Max India Max India BSE | NSE 08/02/12 Are Mutual Funds betting on Max India?

Mitesh Thacker , Technical Analyst, miteshthacker.com is of the view that Max India has target of Rs 216.

Thacker told CNBC-TV18, "Max India has a good technical pattern. The stock has been buzzing around after the bulk deal and we have seen volumes pick up very well over the last few days. The stock has made a double bottom formation around the Rs 185-188 mark and now it is quoting at around Rs 200-207 levels. So I think it is a good bullish formation and prices are likely to go up. For the day we are looking at the target of about Rs 216. But overall because of the good formation and once the stock trades above Rs 216 I think there will be more upsides. Technically the trend will get stronger above Rs 216 and probably we can, people who want to trade with a one week- two week horizon can look for targets of around Rs 240 on the stock."