Micro Tech can go upto Rs 220-225: Sharma

Sharma told CNBC-TV18, “My first midcap pick is a company called Micro Technologies India, which is in the security systems for vehicles, offices and residential space. The share is quoting at PE multiple of 2-2.5, so in that sense even the fundamentals are supporting the technicals. Technical breakout above Rs 195 would confirm the up move and one could see a further jump to close to Rs 220-225 in next 2-3 weeks.”

He further added, “The Second one would be a company called Developments Credit Bank; here the share is given a very good break out above strong resistance band between Rs 44-46 on very good volumes in the past one week. So, one can go long there with a target of close to Rs 70 in the next 3 months and a stop loss of close to Rs 38.”