Take profit in Gammon Infra around Rs 26.50: Thacker

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Take profit in Gammon Infra around Rs 26.50: Thacker

Profit booking and good supply emerging could be seen in Gammon Infra. So take profit around Rs 26.5, 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 Gammon Infra See messages about Gammon Infra Gammon Infra BSE | NSE 31/05/12 Are Mutual Funds betting on Gammon Infra?

Profit booking and good supply emerging could be seen in Gammon Infra . So take profit around Rs 26.5, says Mitesh Thacker , Technical Analyst, miteshthacker.com.

Thacker told CNBC-TV18, "I think now Gammon Infra is turning into some kind of supply zone. You have a 89 day average as well as the 200 day moving average at Rs 26.5 to Rs 27. So probably one would see profit booking and good supply emerging at those levels. So around Rs 26.5 I would advice to take profits."

Gammon Infra touched an intraday high of Rs 26.40 and an intraday low of Rs 24.40. At 14:30 hrs the share was quoting at Rs 25.70, up Rs 1.50, or 6.20%. It was trading with volumes of 3,115,532 shares. Yesterday the share closed up 0.83% or Rs 0.20 at Rs 24.20.