Sasken Comm can test Rs 202-203: Thacker

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Sasken Comm can test Rs 202-203: Thacker

Sasken Communication Technologies can test Rs 202-203, 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 Sasken Comm See messages about Sasken Comm Sasken Comm BSE | NSE 30/05/12 Are Mutual Funds betting on Sasken Comm?

Sasken Communication Technologies can test Rs 202-203, says Mitesh Thacker , Technical Analyst, miteshthacker.com.

Thacker told CNBC-TV18, "Sasken Communication Technologies has given some kind of a breakout on charts. I think very clearly with a lot of buying happening in the cash segment, we saw a very good jump in delivery volume numbers."

He further added, "I think Rs 202-203 is the 52-week high for this stock and it looks very likely that the share price will probably test that in the next few days. So I think that is the target on the upside and the stop loss here would be just below Rs 186."

At 09:21 hrs the share was quoting at Rs 193.00, up Rs 1.55, or 0.81%. Yesterday the share closed up 5.45% or Rs 9.90 at Rs 191.45.

The company touched its 52 week high Rs 209.90 and 52 week low Rs 71.95 on 20 Jan, 2010 and 28 Apr, 2009, respectively. Currently, it is trading -8.05% below its 52-week high and 168.24% above its 52-week low. Market capitalisation stands at Rs 523.24 crore.