Prakash Industries has target of Rs 244: Thacker

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Prakash Industries has target of Rs 244: Thacker

Prakash Industries has target of Rs 244, 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 Prakash Ind See messages about Prakash Ind Prakash Ind BSE | NSE 30/05/12 Are Mutual Funds betting on Prakash Ind?

Prakash Industries has target of Rs 244, says Mitesh Thacker , Technical Analyst, miteshthacker.com.

Thacker told CNBC-TV18, "Prakash Industries is one stock which kind of was getting into breakout mode on Tuesday, so strong price action could follow today. This stock has been consolidating for the last two-three months and once it get pass Rs 235-236, you will see good surge in this stock price."

He further added, "For the short-term the target is around Rs 244 and stoploss of around Rs 227 but overall also this stock could do well if market keeps doing well."

At 09:24 hrs the share was quoting at Rs 237.35, up Rs 4.65, or 2.00%. Market capitalisation stands at Rs 2,757.03 crore.

The company touched its 52 week high Rs 243.95 and 52 week low Rs 64.95 on 06 Apr, 2010 and 15 Apr, 2009, respectively. Currently, it is trading -2.71% below its 52-week high and 265.43% above its 52-week low.