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Last Updated : Mar 31, 2017 11:27 AM IST | Source: CNBC-TV18

Buy State Bank of India on dips, Infibeam may slip to Rs 1013: Mitessh Thakkar

Mitessh Thakkar of suggests buying State Bank of India on dips while he feels that Infibeam may slip to Rs 1013.

Mitessh Thakkar of told CNBC-TV18, "The breakout on State Bank of India (SBI) happened this week earlier at levels of around Rs 280-282. I would be a buyer here. Add more on declines to about Rs 285-286, so on lower levels you will definitely see buying emerge. Keep a stop loss below Rs 280. I think it is heading towards Rs 310-315 and that might happen sometime during the third week of April."

"In fact this week Infibeam is down about 21 percent and the downtrend is clearly there. I think the target on the downside should be around Rs 1,013-1,015 area which is the 200-day average for this stock and that could be an important support but definitely this stock should head towards those levels. I think the pattern is quite weak," he said.

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First Published on Mar 31, 2017 11:24 am
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