Aptech has target of Rs 170-165: Thacker

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Aptech has target of Rs 170-165: Thacker

Aptech has target of Rs 170-165, says Mitesh Thacker, Technical Analyst, miteshthacker.com.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Aptech to set up 150 new training centres in 2010 Buy Aptech; target of Rs 210: IndiaInfoline Aptech has target of Rs 204: Gujral ALSO READ See previous views by Mitesh Thacker See what other Experts & Brokerages are saying about Aptech See messages about Aptech Aptech BSE | NSE 30/05/12 Are Mutual Funds betting on Aptech?

Aptech has target of Rs 170-165, says Mitesh Thacker, Technical Analyst, miteshthacker.com.

Thacker told CNBC-TV18, "After giving a good run up IFCI, Aptech failed to get past their immediate supply areas. Aptech failed to close above Rs 200 for number of days before it started to taper off. Yesterday it broke below the support of around Rs 185. It has good short term target of Rs 170-165, which is where the stock took support before it started moving up."

He further added, "In IFCI the technical was looking pretty strong when it started its move around Rs 50 odd level. It has made the high of Rs 57 during the May end and the June first week period. The stock very clearly failed to get past that level and now it has again started to correct. I think Rs 49 could be a good target and Rs 49-50 would be a good level to get into with a trading kind of objective."