Uttam Galva Steel can test Rs 165-166: Thacker

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Uttam Galva Steel can test Rs 165-166: Thacker

Uttam Galva Steel can test Rs 165-166, says Mitesh Thacker, Technical Analyst.

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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 Uttam Galva See messages about Uttam Galva Uttam Galva BSE | NSE 31/05/12 Are Mutual Funds betting on Uttam Galva?

Uttam Galva Steel can test Rs 165-166, says Mitesh Thacker , Technical Analyst.

Thacker told CNBC-TV18, "Uttam Galva Steel is a midcap stock which probably did very well. The reason we have picked the stock has broken out after a consolidation as well as recorded a good jump in delivery volumes numbers. It could easily test its recent highs of about Rs 165-166 and the stop loss for positions taken now would be around Rs 148."

The company touched its 52 week high Rs 172.40 and 52 week low Rs 106.70 on 08 Sep, 2010 and 29 Jan, 2010, respectively. Currently, it is trading -10.64% below its 52-week high and 44.38% above its 52-week low. Market capitalisation stands at Rs 1,883.42 crore.