Expect Zicom to move above Rs 170: Nooresh Merani

Nooresh Merani of Analyse India told CNBC-TV18, "Zicom Security Systems has been in a range bound condition between Rs 100-125 for the last three-four months and it had made almost four to five attempts at the price of Rs 125. In last two-three days, it has given a breakout and very strong volumes and we expect a target price of Rs 170 plus. What we are seeing is lot of price and volume action and a breakout also. The company being in an interesting space could be a stock to watch out for."

On November 12, 2014 Zicom Security Systems closed at Rs 135.40, up Rs 1.30, or 0.97 percent. It has touched an intraday high of Rs 140.85 and an intraday low of Rs 133.

Disclosure: Analyst would have positions in the stock.