Bullish on Uflex: Mitesh Thacker
Uflex looks more interesting. It started a very good run from Rs 120 to Rs 220. It has corrected and probably could head higher once it manages to get past first targets of Rs 192-195.
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| Updated: Mitesh Thacker, Technical Analyst, miteshthacker.com, in a chat with ET Now, talks about packaging stocks
What’s your view on the packing stocks?
Uflex looks more interesting. It started a very good run from Rs 120 to Rs 220. It has corrected and probably could head higher once it manages to get past first targets of Rs 192-195. Polyplex on the other hand has been disappointing in the sense that this stock price trends a lot of time at the range of about Rs 430-440 but failed to give an upside break and then kind of record a downside break. Very clearly the downside is not yet over, so my belief is that I would probably wait over there. Uflex looks more appealing to me.
What’s your view on the packing stocks?
Uflex looks more interesting. It started a very good run from Rs 120 to Rs 220. It has corrected and probably could head higher once it manages to get past first targets of Rs 192-195. Polyplex on the other hand has been disappointing in the sense that this stock price trends a lot of time at the range of about Rs 430-440 but failed to give an upside break and then kind of record a downside break. Very clearly the downside is not yet over, so my belief is that I would probably wait over there. Uflex looks more appealing to me.
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