124-120 looks a good target for Archies: Devang Visaria

Devang Visaria, chief strategist, devangvisaria.com, in a chat with ET Now talks about Archies.

In terms of today’s move on the upside, Archies as a stock, is it worth buying into?

This rally, which was seen today, will see some resistance coming in at around 106-108 levels. But judging by the volumes, which were seen today, that resistance is likely to be taken out and you could possibly see a retest of the levels of around 124, which was the high of around September 2009. So yes, 124-120 looks like a good target and with a stop loss of closer to 94, you could trade long on Archies.

What is your take on Usha Martin Education?

I have not tracked this counter very closely and I do not have too much of data also on this one to make a valid comment.