Alok Ind may test Rs 35: Thacker

Alok Industries looks pretty good. There are signals that this upmove is actually gone into a proper well defined uptrend. Retest of recent highs of Rs 35 is very likely, says Mitesh Thacker, Technical Analyst, miteshthacker.com.

Thacker told CNBC-TV18, "Alok Industries looks pretty good. It has been enjoying a good run for last couple of days. Clearly there are signals that this upmove is actually gone into a proper well defined uptrend. Retest of recent highs of Rs 35 is very likely. But, for the short-term, somebody can keep a target of about Rs 32.5-33 and then even Rs 35 should be tested because the overall picture remains very strong over here."

Alok Industries touched an intraday high of Rs 29.25 and an intraday low of Rs 28.15. At 14:15 hrs the share was quoting at Rs 29.15, up Rs 1.20, or 4.29%. It was trading with volumes of 5,705,514 shares. On Friday, the share closed up 6.27% or Rs 1.65 at Rs 27.95.