Buy JK Tyre, Punj Lloyd may test Rs 25.50: Mitesh Thacker

Mitesh Thacker of miteshthacker.com told CNBC-TV18, "JK Tyre and Industries appears to have got into a medium to longer term uptrend and I would be a investor over here looking at target of around Rs 155 in the next about six to eight weeks which is roughly about 30 percent higher from current level. The idea should be to accumulate slowly at current level and on dips to about Rs 110-112 levels and keep a stop below Rs 104. I think Rs 155 is the next logical stop." "Punj Lloyd was a buzzer today with some positive news. I think it has met the first target of around Rs 22.5-23 which is the 200-day average area. However, overall pattern has improved, it is a very beaten down stock, so I think it might just continue its rally further once it manages to get past Rs 23 which is the 200-day average area and look for target of around Rs 25-25.50," he said.